On March 15, according to foreign media reports, CCP’s epidemic blockade policy from south to north, coupled with the Russian-Ukrainian war, record inflation and the end of quantitative easing investment measures, have cast a shadow over the global economic recovery.
Spot oil prices were back below $100 a barrel that day. Oil futures in New York fell 6.4%, extending losses over the past week to more than 22%. Last week, oil prices surpassed $130 a barrel for the first time since the financial crisis, reflecting expectations that the supply shock from the war could be lasting. At the same time, the spread of the Chinese epidemic has not ended, and the market has suffered a major blow.
Concerns about the state of global supply chains and doubts about the state of the Chinese economy have contributed to the recent sharp decline in Chinese stock markets. There are doubts that the world has finally moved beyond the pandemic to economic recovery and growth. In cities that focus on foreign trade, such as Shenzhen, many factories have been forced to shut down, exacerbating supply shortages and driving up prices. “Uncertainty” has become a buzzword.
Translated by: MOS Media Team – Fay F