U.S. firms in China report staff shortages, say coronavirus hitting global operations-AmCham – Agricultural Commodities – Reuters
Cities across China have been in lockdown since an extended Lunar New Year holiday last month, while travel bans and quarantine orders have been set in place around the country in efforts to curb the virus from spreading.
This has disrupted economic activity throughout the world’s second largest economy as factories and businesses struggle to reopen, throwing global supply chains into disarray.
The government has promised support for industries and sectors that are worst hit, especially those involved in manufacturing. Authorities have told banks to lower interest rates for qualified firms and tolerate higher levels of bad loans, while also pledging to cut taxes and fees.
Some employees who have made it back to work have reportedly been placed in quarantine at their factories, further delaying the resumption of normal production.