Almost a year after Italy broke with its U.S. and European partners to sign up to China’s influence-extending Belt and Road initiative, relations between Rome and Beijing risk deteriorating rather than getting closer.
Most U.S. factories in China’s manufacturing hub around Shanghai will be back at work this week, but the “severe” shortage of workers due to the coronavirus will hit production and global supply chains.
This latest disaster in China is a major blow to the international supply chain. Businesses should brace for a sharp descent into unknown territory and, most likely, a recession.
Less than a month into the health crisis that began in China, supply chain disruptions are showing up around the world, from automakers to mobile-phone producers to energy companies.