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HomeEconomyDaily Update: April 13, 2022

Daily Update: April 13, 2022

Start every business day with our analyses of the most pressing developments affecting markets today, alongside a curated selection of our latest and most important insights on the global economy.

 

Struggles in Shanghai

Shanghai’s COVID lockdown is putting China’s economic growth, and the country’s energy and commodities markets, to the test—and threatens to prolong global supply-chain disruptions. 

Coronavirus cases in China’s largest city surged beyond 26,000 today, marking another record high and making it unlikely that Shanghai’s strict mobility limits on its 25 million residents will be lifted anytime soon. Keeping civilians in isolation, disrupting transportation and logistics, and limiting access to essential supplies in the city itself, the stringent restrictions in Shanghai pose serious threats to output in China and worldwide. 

China’s low-tolerance for the pandemic has continued to weigh on consumer…

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