{"id":1376675,"date":"2022-03-14T19:23:10","date_gmt":"2022-03-14T23:23:10","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1376675"},"modified":"2022-03-14T19:23:11","modified_gmt":"2022-03-14T23:23:11","slug":"lockdown-of-shenzhen-threatens-u-s-with-more-inflation-and-supply-chain-disruptions","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/lockdown-of-shenzhen-threatens-u-s-with-more-inflation-and-supply-chain-disruptions\/","title":{"rendered":"Lockdown of Shenzhen Threatens U.S. with More Inflation and Supply Chain Disruptions"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Flockdown-of-shenzhen-threatens-u-s-with-more-inflation-and-supply-chain-disruptions%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1376675&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p class=\"subheading\">Lockdown in Chinese manufacturing hubs Shenzhen and Changchun threatens to worsen inflation in the U.S. and to disrupt global supply chains.<\/p>\n<p>The U.S. imported nearly $48 billion of goods from China in January, the latest month for which data is available. Last year, imports of Chinese goods totaled $506 billion, the second-highest level of imports from China on record.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>The Chinese government has <a href=\"https:\/\/www.breitbart.com\/news\/chinese-cities-and-factories-lock-down-as-outbreak-spreads\/\">placed the city of Shenzhen<\/a> on lockdown for at least a week and ordered everyone in the city to undergo three rounds of covid tests.<\/p>\n<p>The lockdown has halted many manufacturing operations in Shenzhen, including those of Foxconn, a crucial assembler of Apple\u2019s iPhones.<\/p>\n<p>Shenzhen\u2019s exports of goods reached 1.92 trillion yuan, the equivalent of around $302 billion in 2021, according to official Chinese figures.\u00a0Electronics and telecommunications equipment reportedly account for over 90 percent of the total output of Shenzhen\u2019s high-tech industries. Huawei Technologies and electric-vehicle maker BYD , which produces electric cars and batteries, are located in Shenzhen.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Huawei has reportedly been allowed to remain open.<\/p>\n<p>The cost of U.S. consumer goods less energy and food jumped one percent in January and 0.4 percent in February, for a year-over-year increase of 12.3 percent. The sudden halt of production in Shenzhen threatens to amplify inflationary pressures in the U.S.<\/p>\n<p>While a brief lockdown would likely not cause major disruptions, a lengthy shutdown of Shenzhen manufacturing could become a major snag for global production of autos, semiconductors, and telecommunications equipment.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Damn. Shenzhen locked down. 17 million people and major supply chain hub. More inflation coming.<a href=\"https:\/\/t.co\/EoPJ8nnu5q\">https:\/\/t.co\/EoPJ8nnu5q<\/a><\/p>\n<p>\u2014 Alex Tabarrok (@ATabarrok) <a href=\"https:\/\/twitter.com\/ATabarrok\/status\/1503046418793082880?ref_src=twsrc%5Etfw\">March 13, 2022<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I&#8217;m inclined to agree w\/early takes that Shenzhen lockdown will worsen inflation. That said, 2-week lockdown in Ningbo, a major port, had only transitory impact on delivery times, PPI. Bigger risk: if China&#8217;s COVID at tipping point, worse disruption ahead. <a href=\"https:\/\/t.co\/pMXA6h8Fmc\">https:\/\/t.co\/pMXA6h8Fmc<\/a><\/p>\n<p>\u2014 Greg Ip (@greg_ip) <a href=\"https:\/\/twitter.com\/greg_ip\/status\/1503217749669076992?ref_src=twsrc%5Etfw\">March 14, 2022<\/a><\/p>\n<\/blockquote>\n<p>Hong Kong\u2019s Hang Seng index fell 4.97 percent on Monday, with many significant Chinese tech stocks plunging. Chinese companies listed on the Nasdaq also fell sharply, with Pinduodou, JD.com, and Baidu among the biggest decliners on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lockdown in Chinese manufacturing hubs Shenzhen and Changchun threatens to worsen inflation in the U.S. and to disrupt global supply chains. The U.S. imported nearly $48 billion of goods from<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1376675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1376675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1376675"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1376675\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1376675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1376675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1376675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}