Wakeup call: Shanghai shutdown shudders

Shanghai's Pudong district. (Image: Unsplash)

Fri, 20 May 2022

Lockdown worry – Fears are growing eight days of covid lockdowns planned for 24 million people in China’s financial and manufacturing hub, Shanghai, could hit consumer demand in the world’s second biggest economy and potentially further disrupt global supply chains. Tesla closed its factory there overnight. The locked down areas represent 5% of China’s population weighted for economic output. (CNN)Demand shock? – Oil prices fell about 6% overnight as worries about the planned eight days of lockdowns for Shanghai hi...

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