China Covid Policies “Causing Massive Uncertainty For Businesses,” European Chamber Says [Forbes]
BASF SE S/ADR (BASFY)
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Source: Forbes
A Chinese flag in front of the Shanghai Railway Station during a lockdown due to Covid-19 in... [+]Shanghai earlier this month.Source: Bloomberg© 2022 Bloomberg Finance LPChina’s Covid-19 policies and Russia’s invasion of Ukraine “are creating severe challenges to European business operations,” according to the results of a membership survey announced Thursday by the European Chamber in partnership with Roland Berger in China.“As a result of China’s Covid-19 policy, 23% of respondents are now considering shifting current or planned investments out of China to other markets—more than double the number that were considering doing so at the beginning of 2022, and the highest proportion in a decade—and 7% are considering the same due to the war in Ukraine,” the European Chamber said in a statement.“The introduction of more stringent Covid-19 containment measures in 2022, with China imposing full or partial lockdowns in at least 45 cities, is causing massive uncertainty for businesses,” th
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