American Enterprise Institute senior fellow Derek Scissors, referring to the Chinese Communist Party (CCP):

  • “There’s never been a point where they’ve told the truth about the number of cases,
  • “The [25,000] cases, honestly, it’s at least 10 times that much, probably more. But they’re never going to report that, because it’s destabilizing. They will never report that the Party has lost control of an important situation.”

I don't know about the veracity of that 250K figure but it'd be foolish to deny that figures closer to that than 25K are the market chatter.

Which points to further issues ahead for:

  • China's domestic economy
  • global supply chains
  • oil demand

and more.

shanghai port 08 April 2022