𝐒𝐡𝐚𝐧𝐠𝐡𝐚𝐢 𝐋𝐨𝐜𝐤𝐝𝐨𝐰𝐧 & 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧 𝐃𝐢𝐬𝐫𝐮𝐩𝐭𝐢𝐨𝐧 🔥
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➡️ 𝐒𝐡𝐚𝐧𝐠𝐡𝐚𝐢 ’s entire population of 26 million is now locked down and there is growing discontent among people who have been living with restrictions on their movements for weeks as the authorities stick doggedly to their zero-Covid policy of eliminating the disease.

➡️ At least 38,000 medical personnel have been deployed to Shanghai from other parts of China, along with 2,000 military personnel, and the city is mass-testing residents.

👉 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧 have been strained for months due to the Covid-19 pandemic and Russia's invasion of Ukraine and now we have Shanghai Lockdown crisis which will cause more challenges in global supply chain;

🔹the number of ships waiting to load or discharge at Shanghai's port had skyrocketed to more than 300 this week 🚤

🔹the lockdown in Shenzhen last month resulted in a 32% reduction in ocean shipment volume in Guangdong Province, where Shenzhen is located.

🔹Maersk, one of the world's largest container shipping companies, announced that Shanghai lockdown can cause transportation delays and higher costs, Trucking service in and out [of] Shanghai will be severely impacted by 30% and Consequently, there will be longer delivery time and a possible rise in transport costs.

🔹 There are increasing signs that China’s economy is slowing sharply because of the lockdowns. Stock markets in Asia & Europe were also down in early trade.