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 The economic effects are now spiraling out of control both within China
and beyond. The disruptions working through the value chains of
corporations and in certain sectors turnd out to be more systemic and
substantial than was originally thought. The long-term effect may be to
shorten or diversify the supply chains while moving towards less labour
intensive forms of production (with enormous implications for employment)
and greater reliance on artificial intelligent production systems. The
disruption of production chains entails laying off or furloughing workers,
which diminishes final demand, while the demand for raw materials
diminishes productive consumption. These impacts on the demand side would
in their own right have produced at least a mild recession. ~ David Harvey

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