China floods affecting global PPE distribution
Large parts of China were reeling on Friday (July 17) from the worst floods in decades.
The central city of Wuhan was among the places declaring red alerts.
The severe flooding has caused disruption to supply chains, including for personal protective equipment - vital in the fight against the new coronavirus.
The president of one U.S. medical supply distributor said the floods have created, quote, "an other major roadblock" in getting personal protective equipment to the United States.
The summer rainy season brings floods to China almost every year.
But the impact of the disruption they cause is being felt further afield as Chinese goods become more important in global supply chains.
Analysts at Morgan Stanley estimate that recent floods in the Yangtze River regions could lead to a gross drag of 0.4 to 0.8 percentage points on third quarter GDP growth.
