(BLOOMBERG) – The world economy could be headed for the "mother of all" supply chain stumbles.
That’s the warning from HSBC economists who caution that if the highly infectious omicron variant which is already swamping much of the global economy spreads across Asia, especially China, then disruption to manufacturing will be inevitable. “Temporary, one would hope, but hugely disruptive all the same” in the next few months, they wrote in a research note this week.
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China is the world’s biggest trading nation and its ability to keep its factories humming through the pandemic has been crucial for global supply chains.