Apple Inc on Monday rescinded a quarterly sales target made just weeks ago, saying the ramp up of factories in China was slower than anticipated. Hyundai Motor Co and Nissan Motor Co have had to suspend some production – not just in China but also at home – for lack of parts.
SHANGHAI: Blocked highways. Stranded workers. Dwindling supplies. Shipping and air freight companies also hamstrung.
The Chinese manufacturing engine that powers much of the world economy is struggling to restart after an extended Lunar New Year break, hindered by travel and quarantine restrictions imposed to curb the coronavirus epidemic and still in place in many parts of the country.
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