China zero-COVID policy to weigh on global supply chains

China zero-COVID policy to weigh on global supply chains The continued outbreak of new variants of COVID-19 has forced the Chinese authorities to instate strict restrictions resulting in the shutdown of major manufacturing units and ports. This aggressive zero-COVID policy will have a prolonged impact on the global supply chains, says GlobalData, a leading data and analytics company. Higher input costs due to supply shortage resulted in the end-products being sold at inflated prices. A vicious cycle of low production, low supply, higher prices along with hike in policy rate to tame supply-driven inflation might overshadow the economic growth prospects…