Supply Chain Relief: China scraps zero-Covid policy
The Chinese government announced on 7-Dec-2022 that the country is making a significant shift towards living with the #Covid19 virus.
Although restrictions are still in place, it is hoped the new measures will help boost the world economy and bring down inflation.
The general sentiment of confidence at #China’s announcement was felt on stock markets across the world with global share and (some) key commodity prices rising.
End-users worldwide may soon breathe a sigh of relief at the end of large-scale factory shut downs and border closures, and the ability to go “back to business as normal”.
A wide range and substantial numbers of products for the #OilAndGas industry (to name but one) are produced by Chinese manufacturers.
As such, the restoration of the world’s supply chain will allow the continued exploration and development of the newly discovered CBM/CSG projects in #Mongolia and help the country to finally live up to its potential as a #GreenEnergy producer.
However, China’s fragile healthcare system and the country’s low vaccination rates (in particular among the older population) may throw a spanner in the works yet.
This Australian #startup for one, is looking forward to being able to ship and travel freely again to support its customers in Mongolia in earnest once more.
(For more on China's change in policy, read the article in The Guardian of 9-Dec-2022 by clicking here.)