Amid ongoing pandemic containment efforts, car companies in China are facing supply chain problems. He Xiaopeng, CEO of electric vehicle maker XPeng, expressed his worries on Thursday.
With factory workers who once formed China’s economic backbone aging and their children shifting from traditional sectors to the booming Internet industry, policymakers have taken steps to address the change.
Experts are currently foreseeing a decline in China’s economic growth to roughly 5.6% from the already relatively low 6.1%, which will bring global economic growth down by 0.2%.
China Labor Watch recently released a 51-page report detailing the labor abuses of the US tech giant Apple and one of their main suppliers for iPhone parts, Foxconn.