Covid-19 Shuts Down China's Foxconn
Foxconn's iPhone manufacturing facility in Zhengzhou implemented COVID limits to contain an epidemic. According to official posts on WeChat, employees would be subjected to a required period of isolation for a number of days. Tensions highlight the Covid Zero policy's financial and social implications. It also demonstrates the potential danger China's strategy poses to international supply networks and goods. After the Taiwanese manufacturer of the majority of the world's iPhones closed cafeterias at the "iPhone City" production facility, food became a source of anger.
Outside of regular business hours, Covid Foxconn and Apple did not immediately respond to requests for comment. On Wednesday, Foxconn stated that a "small" epidemic had not had an impact on output. Because of China's zero-tolerance policy against the epidemic, companies are closed and supply lines are disrupted.
Source: https://www.businesstimes.com.sg/companies-markets/workers-leave-worlds-biggest-iphone-plant-to-escape-covid-curbs
Buy and Sell Crypto at Binance: https://accounts.binance.com/en/register?ref=36721001
Trade Binary Options at IQ Option: https://affiliate.iqbroker.com/redir/?aff=318140
If you like this video, leave a comment and subscribe to my channel if you like the content!
Disclaimer: I am not a financial advisor, nor do I claim to be one. I accept no liability for any loss incurred by anybody who acts or refrains from acting as a result of any content provided or published. Everything spoken in this video or published by its creator is an opinion and should not be taken as fact. Trading cryptocurrencies and any other form of asset involves a high risk and you may lose your full investment.
Copyright Disclaimer: Under Section 107 of the Copyright Act 1976, allowance is made for fair use for purposes such as criticism, comment, news reporting, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing.
Affiliate Links Disclaimer: This video contains affiliate links. I may be compensated for actions you complete on those websites at no additional charge to you.