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COVID-19 resurgence in China could add pressure to supply chains

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Yahoo Finance's Anjalee Khemlani discusses the latest news around the new COVID-19 subvariants in the U.S. and China.

Video Transcript

ANJALEE KHEMLANI: Around the world really and around the country, we know that COVID cases, specifically in China, are really a concern when it comes to what could happen in some of the major hubs. Let's take a look right now at Shanghai and Beijing in particular. We know that Shanghai really was one of the key issues earlier on when they started to see a rise in cases.

And so looking at things right now, we are seeing a concerning rise broadly across the country. And that has brought back concern about what China's strict COVID policy is going to entail. We know that, for example, in Macau, they have shut down casinos once again, in a repeat from 2020, and other districts of these economic centers as well. So really, that's where things are concerned. And of course, this comes as we see that rise in cases from the BA.4, BA.5, and that is also putting pressure on the US as well.

We know that we are in the middle of a surge. So globally, this is true. Now, while China had early on been sort of a bellwether for the rest of the world-- cases rose there first before reaching here-- we are starting to see a shift in how the variants are really impacting globally. And China's specific impact, of course, as we know, is the economic pressure that they are now facing. We do know that they could be weighing another lockdown. But it seems like for right now, they're doing a targeted approach in certain areas, in certain districts. And that's sort of where things stand.

- All right, a lot of testing to reemerge as well right now, we do know. Anjalee Khemlani breaking that down for us with the newest, latest variant here that we should be keeping tabs on. Thanks so much.