U.S. companies have largely stayed steadfast in their commitment to remaining in China, but a new survey shows rising concern as the government locks down in response to Covid-19. The results are the latest indication of the difficulties facing the nation’s economy, and how those issues could affect the changing shape of globalization.
All 121 member companies surveyed by the American Chamber of Commerce in between April 29 and Thursday reported effects from Beijing’s zero-Covid policies. Half said they have already delayed or reduced investments as a result of outbreaks such as the one of Shanghai.
Fifteen percent of the companies with operations in Shanghai, which has been locked down for more than a month, reported their operations have yet to reopen. Nearly 60% reported production problems due to a lack of employees, lockdowns, or difficulty getting supplies.
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