The world economy could be headed for the “mother of all” supply chain stumbles, writes Bloomberg.
Reporting on new research by HSBC economists, Bloomberg suggest that “if the highly infectious omicron variant which is already swamping much of the global economy spreads across Asia, especially China, then disruption to manufacturing will be inevitable” and will also be hugely disruptive.
“In recent weeks scattered infections of both the delta and omicron variants have already triggered shutdowns to 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,” writes Bloomberg.
Henan and Guangdong, which also has an outbreak, are centres of electronics production. If cases continue rising there, it could impact the supply of electronic components, according to Bloomberg Intelligence analysts.
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