Global markets slid as demonstrations against zero-COVID policies erupted in some of China’s largest cities, marking a rare display of dissent inside the Communist state in response to growing public frustration over prolonged lockdowns. (The Wall Street Journal, Financial Times)
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Global markets slid as demonstrations against zero-COVID policies erupted in some of China’s largest cities, marking a rare display of dissent inside the Communist state in response to growing public frustration over prolonged lockdowns. (The Wall Street Journal, Financial Times)
Talking point: The public protests—held across cities including Beijing, Wuhan, Nanjing and Urumqi, the capital of the western Xinjiang region—have led to staffing shortages in some crucial facilities and re-ignited concerns over global supply chains. Apple partner Foxconn, which operates the world’s largest iPhone factory in Zhengzhou, is offering US$1,800 bonuses to staff who agree to stay at the plant in an effort to get its assembly line back to capacity. More than 20,000 of the campus’ 200,000 staff reportedly left their positions as protests grew over the weekend.
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