Shanghai lockdown: Economy shaken by zero-Covid measures
Shanghai is a major financial centre and port as well as a hub for manufacturing electronics and cars. …
“We have seen PMI data, which shows that both manufacturing and services sectors are actually hit hard. And that has not included the Shanghai lockdown. So I think qualitatively we’re seeing more downside pressure for the first and second quarters of GDP data,” according to Peiqian Liu, China economist for NatWest Markets.
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