Chinese factories slow production, workers sent home, and global exports face unforeseen troubles

Chinese factories, particularly in provinces like Guangdong and Zhejiang, are cutting back on operations due to elevated US tariffs resulting in fewer American orders. This has led to significant job suspensions and reduced hours for workers across various sectors.

In response to the crisis, local governments are rolling out support packages for affected manufacturers. Concurrently, China is seeking to boost domestic oil production to decrease reliance on imports, positioning itself among the top global oil producers.