Shanghai Lifts Lockdown but Full Effect yet to Be Felt, Experts Warn

  • City officials in Shanghai are planning to gradually ease lockdown restrictions after seven weeks.
  • The lockdown forced shops and factories to close and disrupted ports.
  • The ripple effects of the lockdown have yet to be fully felt by the global economy, experts warn.

Shanghai has begun to emerge from a lockdown that has constrained the global economy and created even more turmoil for supply chains.

The city’s deputy mayor, Zong Ming, said in an online news conference on Monday that the city would emerge from restrictions in phases, aiming to return to normal life by June 1, Reuters reported.

In line with China’s zero-COVID strategy, Shanghai entered a strict lockdown on March 28 to combat a rising number of Omicron cases.

The tough restrictions hit businesses in the manufacturing and commercial hub of Shanghai, not to mention the broader global economy, as factories were shuttered and workers were confined to their homes. Truckers struggled to move goods in and out of the city’s huge port due to restrictions on movement.

But even when the restrictions lift, experts have warned that the impact of the lockdown will continue to cause ripple effects around the world.

Source link

We will be happy to hear your thoughts

Leave a reply
Enable registration in settings - general
Compare items
  • Total (0)
Shopping cart