As China tackles its worst Covid-19 outbreak since early 2020, consumption looks set to be hit the hardest while factories find ways to keep producing.
Shipping giant Maersk said Wednesday in an online customer advisory that terminals in major Greater China ports"remain business as usual including vessel operation, yard handling and gate-in & out."
Covid testing requirements for truck drivers and stricter road control between Shenzhen and nearby cities means trucking services in the area will likely"be severely impacted by 30%," Maersk said.on supply chains, including autos and semiconductors.The supply chain shocks are relatively light so far, but the primary economic impact is on consumer spending and the services industry, said Bruce Pang, head of macro and strategy research at China Renaissance.
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