Is China and Russia ensuring downfall of US economy
When Russia moved on Ukraine. NATO responded with sanctions. The impact of those sanctions on the economies of NATO countries has been devastating. Inflation is rampant throughout these countries and GDP growth projections show drops of up to 4 percentage points .
A further two weeks after Russia’s forces moved into Ukraine, China locked down Shanghai.
More than 800 multinational corporations have regional headquarters in Shanghai . Among them, 121 are Fortune Global 500 companies, including Apple, Qualcomm, General Motors, Pepsico.
More than 70 000 foreign companies have offices in Shanghai. More than 24 000 of these are Japanese.
The shutdown of Tesla’s operation in Shanghai because of the lockdown has set the company back with lost production of 40 000 units of electric vehicles. That’s just one car company. Volkswagen and General Motors both have factories in Shanghai.
Ford has a global design center in Shanghai.
iPhone supplier Pegatron has its major factory in Shanghai and another in nearby Kunshan. Both have been shut by the lockdown.
TSMC , the world’s most valuable manufacturer of semiconductors, has a major production facility in Shanghai.
Pharmaceutical giant AstraZeneca has a global R&D centre in Shanghai.
To top this off, Shanghai is the world’s biggest container port moving more than 47 million shipping containers per year. Shutting down the city for more than a month means 4 million of those have potentially been impacted.
As can be seen, the simple act of shutting down Shanghai has delivered a body blow to global giants in the US sphere of influence at a time when they are already scrambling to reset their economies after their disastrous sanctions against Russia.
Apple, Microsoft To Be Hit As China Bans Foreign Computers, OS In Government Offices
China has asked its central government agencies and state-backed corporations to replace all foreign PC hardware and operating systems with domestic alternatives within two years, Bloomberg reported on Friday, citing people familiar with the plan.
So if you join all the dots, it is clear that Russia and China are ensuring downfall of US economy