Why China is likely to recover more slowly from the latest COVID shock

As Shanghai tries to reopen businesses, the downtown area over the weekend prevented residents from leaving their apartment complexes again for mass virus testing. Pictured here, in another area on May 21, 2022, there is a line outside a mall. What is Kikia | China Optical Group | Getty Images BEIJING – Many economists predict … Read more

Gasoline could hit $5 a gallon this summer, causing more pain for consumers

Current gasoline prices are shown in Garden Grove, California, March 29, 2022. Mike Blake | Reuters Gasoline prices are an alternative ticket to consumers’ wallets this summer, as supply shortages and uncertainty in Ukraine could drive up fuel costs sharply. Gasoline prices are up around $5, and look like they’ll stay high even after the … Read more

Some factories may leave China, but the big picture doesn’t matter

China still holds the cards for global supply chains, whether or not the Covid shutdown frustrates businesses in the near term. An employee works on a 5G smartphone screen production line at a factory on May 13, 2022 in Ganzhou, Jiangxi Province, China. Zhou Haiping | China Optical Group | Getty Images BEIJING – China … Read more