“World trade is on track for a ‘slowdown'”

Xyou had prepared his move. On October 30, at two in the morning, he took his backpack and quietly climbed the barriers that surrounded his camp. He was not escaping from a prison but from a giant factory, set up as a closed city of 200,000 people near Zhengzhou, in central China’s Henan province. He then walked 200 kilometers to reach his town. “I will never work at Foxconn again, they are inhuman”He told the financial timeswho tells his story. Xu was fleeing from the strict application of the Covid zero policy, which confined a large part of the firm’s employees to their bedrooms to respect the quarantine imposed by the authorities. An illustration among others of the vanity of a policy that is bringing the Chinese economy to its knees, when an additional 5,000 cases of Covid-19 were listed across the country on Monday.

Also read: Apple: Rising Covid-19 cases in China expected to delay iPhone 14 Pro production

This Sunday, November 6, Apple officially acknowledged that it will not be able to deliver as many of its new iPhone 14 as expected, due to interruptions in its Chinese factories. The one in Zhengzhou gathers 60% of the total of this model. Bad news for the group on the eve of the peak of Christmas sales. And further for the entire high-tech sector in the United States, which accumulates disappointments and contributes greatly to the current stock market crash.

China announced on Monday, November 7, a drop in its foreign trade of 0.7% per year in October, the first drop since 2020

In fact, it is all world trade that is disrupted by Chinese health policy. Le pays a d’ailleurs annoncé ce monday 7 novembre a repli de son commerce extérieur of 0.7% sur an october, la première baisse depuis 2020. En cause, bien sûr, la politique zéro Covid qui semble sans fin, mais Not only. World trade as a whole is beginning to feel the first effects of an economic slowdown to which is added a wave of protectionism unprecedented in decades. Witness the colossal American plan that seeks to marry the reindustrialization of the country with the desire to reduce its dependence on China and block its rise to power.

Cold shower

This situation contrasts sharply with the post-Covid euphoria of 2021. By finally allowing them to leave their homes, the American and European middle classes had acquired a consumer craving fueled by the largesse of states to keep the economy afloat.

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