Earlier this month, over half of China extended shutdowns to contain the outbreak. Last year, those parts of China accounted for more than 80% of national GDP and 90% of exports. That disruption of the world’s manufacturing hub has severely hit supply chains globally, with companies still dealing with the fallout.
As China struggles to get back on its feet, with factories starting to reopen and workers trickling back, progress is slow. Returning workers need to follow quarantine orders, meaning factories are still operating at limited capacity.
% the year before.