That’s A Shame: China’s Manufacturing Industry Collapsing
View Source | December 30, 2022 6:01 pm
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- China’s manufacturing sector has been battered by multiple factors over the past two years, and is rapidly collapsing.
- The World Bank reported that China’s gross domestic product had been expanding at an average of 9% since the country reformed its economy more than four decades ago.
- Over the past two years, however, the ruling Chinese Communist Party has been among the most zealous enforcers of COVID-19 lockdown policies on the planet.
- Quarantines have created unpredictable supply chain shocks.
- One result: American manufacturing orders from China have plummeted as much as 40%, according to data from the CNBC Supply Chain Heat Map.
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