Justin had the heads up yesterday:

ING assessment:

  • Beijing has three days of residents staying at home for Covid testing. Though not officially considered a “lockdown” the economic impacts will be similar. The zero-Covid policy is once again confirmed. Damage to the economy is difficult to estimate from the uncertainty of the timing and duration of lockdown.

And adds:

  • Guangdong province is experiencing floods from heavy rainfall. This may also affect the operations of some factories, adding another headwind to manufacturing and exports.

This from earlier on the more widespread imapcts:

ICYMI - Toyota to halt 12 plants in Japan, & will cut North American production further


The China shills will tell you everything is just fine. But it is not. China is in a very difficult position with persistent outbreaks, home-grown vaccines that are not as effective as those developed elsewhere, a very vulnerable and numerous elderly population (no-one wants to see illness and death in any age group). The best thing to do is to take a clear-eyed view, not through rose-coloured glasses and denial.

Beijing, china