Production and operating capacity in China continues to grow. In the spring of 2022 China has been battling against its most severe Covid outbreak since the early days of the pandemic two years ago. Companies have to work with reduced staff and capacity, while many goods are held up in China's ports as a result of the Covid lockdowns in many provinces. This is causing severe disruption of the global trade/supply chain, leading to rising costs and high inflation. Together with disruptions in the oil and gas supply, mainly to Europe, and sanctions against Russia due to the war in Ukraine, the outlook for the global economy is rather gloomy.
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