Business Maverick: iPhone supply chain takes hit from Xi’s Covid-Zero enforcers

with an outcry over an on-site coronavirus outbreak, worker exodus and enforced quarantine. Local authorities said on Wednesday that they’ll sterilise Foxconn’s campus and the surrounding areas in the next three days and send N95 masks to workers, another sign of the government’s tightening grip.

It served up a stark reminder of the dangers for Apple of relying on a vast production machine centred on China in a time of unpredictable lockdowns and uncertain trade relations. The company’s shares fell 3.7% on Wednesday, dragged down in part by the latest

Well to be fair that's similar to what the US did to HUAWEI a few years ago. The Chinese are masters of the 'Revenge is best served cold' phylosophy.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: How a Mysterious China Screenshot Spurred $450 Billion RallyNobody is quite sure who wrote it, when it was written or if it’s even true. But a screenshot of four paragraphs detailing a China reopening plan was enough for traders to scoop up stocks for two days running.
Source: dailymaverick - 🏆 3. / 84 Read more »