TLDR: China reported record-high Covid cases overnight as its complete lockdown of Shanghai dragged into a third week amid growing signs of civil unrest, looting and food shortages. The lockdowns affect about 40% of China’s GDP and threaten to throttle consumer spending, factory production and shipping in a key part of the global logistics chain.
In other news breaking this morning:
exit polls show Emmanuel Macron and anti-migration right-winger Marine Le Pen will face off in the second round of France’s Presidential elections on April 24, with opinion polls showing they are running neck and neck; (Reuters)
PM Jacinda Ardern has announced her first overseas trade and diplomatic mission in more than two years, including visits to Singapore and Japan over six days starting next Monday (RNZ); and
South Island hospitality firms are calling for an exemption from new work visa rules that force them to pay new migrants $28/hour. (1News)
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