Fresh outbreaks of the Delta coronavirus variant in Southeast Asia have crippled its factory sector, disrupting global supplies of goods such as rubber gloves, semiconductors and SUVs and threatening the US$3 trillion region's recovery.
The economic disruptions in Southeast Asia caused by the virus have been made worse by slow progress in vaccinations in the region of 600 million people. Governments have struggled to secure doses and have imposed costly lockdowns that have left many factories without workers. For Southeast Asia's manufacturers, which are competitive largely because of low-cost labour and access to raw materials, the impact of new outbreaks on labour supply has been a major production bottleneck.
"There is strong demand from export markets, such as the United States, our main market. The problem now is with the production." In Malaysia, which supplies about 67per cent of the global rubber glove market, lockdown restrictions forced many glove makers to suspend operations in June and July.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
North Korea criticises Britain for plan to deploy warships in AsiaSEOUL: North Korea criticised Britain on Tuesday (Aug 3) for a plan to permanently deploy two warships in the Asia-Pacific region this year, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Harris will reject China's claim in the South China Sea during trip to AsiaVice President Kamala Harris will focus on defending international rules in the South China Sea, strengthening U.S. leadership in the region and expanding cooperation on matters of security during her trip to Vietnam and Singapore, a senior White House official told Reuters. The trip will be Harris's first to the region, making her the only U.S. vice president to visit Vietnam and is aimed at rallying international support to counter China's growing global influence. The countries are critical partners for the United States because of their location, size of their economies, their trade relationship with the United States and security partnership on issues such as the South China Sea, the official said.
Source: YahooSG - 🏆 3. / 71 Read more »
Harris will reject China's claim in the South China Sea during trip to AsiaWASHINGTON: Vice President Kamala Harris will focus on defending international rules in the South China Sea, strengthening US leadership in the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »
China's Tencent woes hit European and US gaming stocksShares in Europe-listed gaming companies fell on Tuesday and U.S. names were tipped to open lower after a steep selloff in China's social media ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
NYC will require COVID-19 vaccination proof for indoor dining, gymsNew York City will soon require proof of COVID-19 vaccinations for indoor activities, Mayor Bill de Blasio announced Tuesday (Aug 3), making it ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »