Varney on China lockdowns: The world’s supply chain is 'threatened'
China's zero-Covid policy threatens global economy
FOX Business host Stuart Varney argues 'China's developing crisis should be on our radar.'
In his latest "My Take," "Varney & Co." host Stuart Varney discusses China's COVID lockdowns as it could impact the global economy, arguing the most important part of the "whole world's supply chain" is "threatened."
STUART VARNEY: Ignore China's COVID lockdowns at your peril! The ripples are going to hit us hard.
Here's the latest: Twenty-six thousand new cases in Shanghai. Twenty-six million residents still under lockdown. They can't go outside. China's social media is full of videos showing people on their balconies screaming for food and medical supplies.
Gungzhou is a megalopolis and a major manufacturing center has closed its schools. Some factories have closed. Residents can't leave the city.
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You see where this is going – the supply chain – it’s threatened, and this is the most important part of the whole world's supply chain.
If their products don't arrive, all kinds of things don't get built.
Stuart Varney during his "My Take" on April 11, 2022 argued that ignoring China's COVID lockdowns will have a ripple effect. (Fox News)
And think of the politics: Xi Jinping's ‘zero-COVID’ policy is slowing his country's economy, just as it faces a real estate crash and 8 percent inflation.
Dictators facing catastrophe are apt to lash out!
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China's developing crisis should be on our radar, but it has been pushed out by all the other crises.
It is the world's second-largest economy. It is the workshop of the world. And if it stays with ‘zero-COVID’ and keeps locking down, their economy will collapse.
That is a strong word. But they are on the brink. The best indicator for the global economy is now the new case rate and the lockdown rate in China!