Monday, January 27th 2020
Chinese Government Closes Foxconn and Samsung Factories Amid Coronavirus Outbreak
Some of the recent news from China is the stuff of science fiction, with the Central Government there locking down entire cities to contain the deadly Coronavirus outbreak there. When cities with 10+ million populations are under lock-down, it's only natural for factories to run out of workforce. According to a ZeroHedge report, the government has reportedly shut down factories owned or operated by big names in the technology and FMCG (fast-moving consumer goods) industries.
Among these are the ubiquitous Foxconn, which has manufacturing contracts with the biggest silicon valley tech firms for contract-manufacturing their hard-product - including the Apple iPhone; and Samsung Electronics, which makes consumer electronics, home appliances, and certain semiconductor products in China. A third big name in the report is the FMCG and pharmaceutical giant Johnson & Johnson. The closure of factories could wreck tech stocks in the coming trading sessions, not to mention possible impact on prices of electronics. As of now, the closure is stipulated for the next 1-2 weeks.
Source:
ZeroHedge
Among these are the ubiquitous Foxconn, which has manufacturing contracts with the biggest silicon valley tech firms for contract-manufacturing their hard-product - including the Apple iPhone; and Samsung Electronics, which makes consumer electronics, home appliances, and certain semiconductor products in China. A third big name in the report is the FMCG and pharmaceutical giant Johnson & Johnson. The closure of factories could wreck tech stocks in the coming trading sessions, not to mention possible impact on prices of electronics. As of now, the closure is stipulated for the next 1-2 weeks.
56 Comments on Chinese Government Closes Foxconn and Samsung Factories Amid Coronavirus Outbreak
Cleanest places in the country, probably.
I would not be surprised if this is not due to these wet markets.
www.niaaa.nih.gov/publications/brochures-and-fact-sheets/alcohol-facts-and-statistics
We're currently in the early stages of this outbreak. There's a lot of "it's not as bad as this/that" in between the Corona Extra jokes, but really, we don't know how far this thing is going to go.
The CCP wants desperately to hang on to power. They hang on to power by selling things so they can fund enough civil works that the people don't entirely go insane and revolt. You think they can sell things to dead people, or if the global economy crashes? Hell no.
Their motivation if they made this may be control, but it has absolutely nothing to do with economics.
California has its first confirmed case, a person from Orange County. Then there was the first US reported case in Washington state. Now health officials are saying there might be one confirmed at Texas A&M. In general though, the CDC is saying the overall risk to the US population is low, and several big airports that do flights to and from China have already begun screening passengers coming into the country from China for signs of the virus.
Seriously, this is why health and safety regulations NEED to exist and NEED to be obeyed and enforced. Especially in a country of 1.386 BILLION (in 2017. That number has most certainly increased by now) people... India is in 2nd, with 1.339 billion.
They also benefit greatly with all those dollars they still have, if those drop in value. Right? ..... There are also far better ways to kill an economy and China owns many of those levers. They can just change some numbers and percentages and poof. Look at trade tariffs for a good example.
Its popular these days it seems to judge an effect as an intent. The two are not the same thing, and since everything is connected, where will you stop? This is how alleged conspiracies are born, based on nothing.
Its not helpful in any way, also referred to as FUD
You would hope the chinese government would step up their game over this after SARs and MERs but nope..maybe this is the 3rd time the charm and they will actually ban eating silly things like bats,snakes and other weird things , crack down the black market and take hygiene a lot more serious than just be concerned about pollution.
I'm so looking forward to getting stared down or get even worse treatment for something I didn't even do or get assumptions i've came/recently been China despite being born in the UK and never been to the mainland in my whole life.
Expect most eastern Asians to potentially get slight mistreated in other parts of the world.
Then again, what do I know? I've got a few conspiracy theories floating in my head that are a bit of a stretch even for most conspiracy nut jobs.
That's not to say that they're indeed behind this, but I would still have that possibility in the top 10 list of what could've gone wrong!
Mortality rate goes up much higher if the numbers of those infected surpasses the ability to provide proper care to those people.
This isn't hype. It's actually quite serious.