Hopefully, Biden’s Paying Attention, Because What’s Happening in China Could Soon Hit Us Like a Freight Train
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Economists sounded the alarm last week that the U.S. could soon be facing “the mother of all” supply chain shocks, and there’s no reason at all the think President Joe Biden or his administration is ready.
The warnings came from economists with the major British financial holdings company HSBC, according to Bloomberg News, who said the rapid spread of the omicron strain of the coronavirus across Asia — but particularly in China — will lead to production disruptions in China that add up to a devastating blow to the already struggling U.S. economy.
Bloomberg reports that as China pursues its aggressive “Covid-zero” strategy, “scattered infections” of COVID-19 have forced shutdowns of “clothing factories and gas deliveries around one of China’s biggest seaports in Ningbo, disruptions at computer chip manufacturers in the locked-down city of Xi’an, and a second city-wide lockdown in Henan province Tuesday.”
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