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Every country needs to take a hard look at the supply chain of critical goods such as medical supplies or chemicals and figure out how to reshore these factorie
by taiwanboy 7y ago
Every country needs to take a hard look at the supply chain of critical goods such as medical supplies or chemicals and figure out how to reshore these factories. Even if the Chinese migrant workers comes back to the factory (estimated only around 20-30% did), most of the small businesses might be gone by then.
https://asia.nikkei.com/Business/Industry-in-focus/Virus-hits-China-s-economic-heart-its-small-businesses https://asia.nikkei.com/Business/Industry-in-focus/Virus-hit...
35% of 1,506 Chinese SMEs surveyed in early February expect to run out of cash within 1 month, 85% within 3 months.
Chinese small business which account for 99.8% of registered companies in China and employ 79.4% of workers, according to the latest official statistics. They contribute more than 60% of gross domestic product and, for the government, more than 50% of tax revenue.
https://www.zerohedge.com/economics/chinese-workers-refuse-go-back-work-despite-beijings-demands https://www.zerohedge.com/economics/chinese-workers-refuse-g... Chinese workers refuse to go back to work
https://www.zerohedge.com/economics/jpmorgan-now-expects-china-q1-gdp-drop-1-crash-4-if-coronavirus-not-contained https://www.zerohedge.com/economics/jpmorgan-now-expects-chi...
JPMorgan Now Expects China Q1 GDP To Drop To 1%, Crash To -4% If Coronavirus Is Not Contained
- throwawayhhakdl 7y ago-4% Chinese GDP would kill a lot more than the virus...
- rfoo 7y agoAnd imagine what would happen if an incident like this hits TSMC, the world definitely needs some reconsideration on where we manufacture things.