#Newspaper

Coronavirus/China stocks: supply chain reaction

//Wuhan is the biggest transport hub in inland China, home to the factories of countless multinational and local businesses...The lockdown triggered by the coronavirus means most plants are closed... Supply chains, both domestic and global, are at risk.

//Shares of Chinese automaker Dongfeng have dropped over a fifth since the outbreak started. Most of its production is based in Wuhan. Global automakers such as Peugeot, Renault, Honda and Nissan are at risk too. The latter bases roughly half its Chinese production in the city. Domestic supply chains face prolonged disruption until factories can reopen. Component shortages appear inevitable.

//Tech companies such as Apple, Chinese smartphone maker Xiaomi and local electronic component maker BOE Technology rely on factories in Wuhan... Production losses are expected from Taiwan’s Hon Hai, which makes most of the world’s iPhones.

//Finding alternative suppliers will not be easy. More than a third of factories supplying Apple are based in Chinese cities which have extended plant closures.

//That would be a much bigger hit than Hong Kong’s during the Sars epidemic. The disruption underlines China’s central position as a manufacturing hub for the electronics and automotive industries. It could undermine that status too.

Source: Financial times (3 Feb)
https://www.ft.com/content/35a4e2f5-32ce-4374-88db-63d0e08b5e01

Further reading:
"It’s time for global businesses to admit it: China isn’t a good investment"
https://t.me/guardiansofhongkong/17335

#Economy #WuhanPneumonia

#FirstHand #Video #Protests
South Kwai Fong District Rally Against The Government’s Decision Turning The District Clinic To Designated Clinics in Town

1213 | Kwai Chung

The march reached South Kwai Chung Jockey Club Polyclinic. From the video taken, it is clear that the clinic is located around 200m away from residential areas nearby. District councillors claimed that the government has totally neglected resident’s demand for not turning the district clinic to a designated clinic for Chinese Pneumonia.

#ChinesePneumonia #Feb16

#FirstHand #Protests #Feb16
“Do not step on them if you believe they are standing with Hong Kong.” Citizens responded by stepping hard on photos of officials

1223 | Kwai Chung

The march reached the destination of the Rally. Some citizens put the pictures of government officials on the floor and shouted, “Do not step on them if you believe they are standing with Hong Kong.” Others responded by stepping hard on these pictures; Some put a yellow banner with slogan opposing Kwai Chung District to be opened for Chinese Pneumonia.

Pelosi warns US allies: 'Don't go near Huawei'

#newspaper

House Speaker Nancy Pelosi on Friday warned nations against doing business with Chinese telecom giant Huawei and called on other nations to work with the U.S. as the globe races to develop 5G networks.

“This is the most insidious form of aggression, to have that line of communication, 5G, dominated by an autocratic government that does not share our values,” Pelosi told an audience at the Munich Security Conference.

“If you want to build a collective conscience of values and respect for human rights and the rest, don’t go near Huawei and instead, let’s internationalize and build something together that will be about freedom of information. ”

“I’ve been tracking China for 30 years on trade, intellectual property and the rest of it, and I tell you unequivocally, without any hesitation: Be very careful ... unless you want to end up with a society like China or an economy like China, which is not in the free enterprise mode,” she added.

Pelosi’s hard stance against Huawei represents one of her few areas of agreement with President Donald Trump. Her comments come as the Trump administration works to isolate Huawei from developing a larger foothold in U.S. partner countries.

https://www.cnbc.com/2020/02/14/pelosi-warns-us-allies-dont-go-near-huawei.html

Further reading:
Huawei will be allowed to build parts of Britain’s 5G network
https://www.telegraph.co.uk/politics/2020/01/28/huawei-will-allowed-build-parts-britains-5g-network/

#ChinaThreat #Huawei #GlobalEspionage #5G

#FirstHand #Protests

1253 | Kwai Chung
The riot police left the scene. Some suggested they were heading for Cheung Sha Wan, where another protest was staged.

#Feb16 #FailedState #ChinesePneumonia #KwaiChung

#FirstHand #Protests
Lunchboxes Still Warm: Journalist Suspects Waste of Public Resources by Police

1309 | Kwai Chung
When the police left, lots of lunchboxes were left behind. A journalist told us the lunch were still warm. And when most of the journalists didn't even have breakfast, the police were casually throwing away food that were paid by taxpayers.

#Feb16 #FailedState #ChinesePneumonia #KwaiChung #PoliceWaste