NYU Shanghai's Johnson on Zhengzhou Unrest

The transcript discusses the impact of COVID-19 lockdowns in China, highlighting the challenges faced by supply chains and manufacturing sectors. It explores the learnings from these lockdowns, such as the importance of stable food supply and communication. The discussion also covers China's manufacturing ecosystem, emphasizing its strengths in education, infrastructure, and technology. The potential costs and challenges of diversifying supply chains away from China are examined, along with the interdependent relationship between Foxconn and Apple.

What was one of the measures taken during the COVID-19 lockdowns in Chinese cities?

• Establishing new hospitals

• Distributing free masks

• Implementing a curfew

• Setting up quarantine centers

What was a key lesson learned from the Shanghai lockdown?

• The benefit of increasing tourism

• The necessity of reducing taxes

• The importance of stable food supply

• The need for more entertainment options

What challenge did Foxconn face during the lockdown?

• Communication issues with workers

• Lack of raw materials

• Decreased demand for products

• Increased production costs

Why did companies not have contingency plans for lockdowns?

• They believed the virus would burn out

• They were focused on other markets

• They underestimated the virus

• They had too many resources

What is one reason China remains a dominant part of the supply chain?

• Limited competition

• High import tariffs

• Advanced infrastructure

• Low labor costs

What is a potential cost of moving supply chains out of China?

• Higher interest rates

• Increased production time

• Loss of skilled labor

• Increased labor costs

What is a benefit of the close relationship between Foxconn and Apple?

• Increased market share

• Reduced production costs

• Long-term strategic plans

• Short-term planning