Apple supplier TSMC warns of slowing consumer demand and higher prices

AppleInsider

Demand for consumer electronics is appearing to slow amid geopolitical and pandemic uncertainties, and TSMC's chairman says that rising costs of components could be passed on to consumers.

TSMC facility

Mark Liu, the chairman of key Apple supplier Taiwan Semiconductor Manufacturing Co. (TSMC), made the comments at an industry event Wednesday. The slowdown in demand is emerging in areas like "smartphones, PCs, and TVs, especially in China, the biggest consumer market."

Additionally, component and materials costs are also rising sharply, bumping up production costs for manufacturers, tech companies, and chipmakers.

"Such pressure could eventually be passed on to consumers," Liu warned. "Everyone in the industry is worried about rising costs across the overall supply chain... The semiconductor industry already and directly experienced that cost increase."

Despite the slowdown in consumer demand, Liu says that TSMC still can't meet customer order demands with its current capacity. A few areas -- such as automotive market, high-performance computing, and the Internet of things -- appear to be unaffected by the slowdown.

"We will reorganize and prioritize orders for those areas that still see healthy demand," the TSMC chairman added.

Liu's comments come amid lowered forecasts for economic growth in 2022 because of macroeconomic uncertainty in several regions and the war in Ukraine. China is also seeing another resurgence in Covid-19 cases, further adding to the precarity.

Other signs that the consumer market is slowing down include a report that Apple was cutting production orders for the iPhone SE because of weaker-than-expected demand.

Back in January, TSMC said it still plans to grow by 25% or higher in U.S. dollar terms for revenue in 2022. It plans to spend a record-setting $44 billion in capital expenditure during the year.


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blastdoor

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

waveparticle

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

greginprague

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

Um, no.  The population of Russia is 144 million and decreasing.

crowley

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

Russia is not a rich country.  Apple sales there are in the low single digit billions annually.  Not to be sniffed at, but barely a single digit percentage of Apple's total.

https://appleinsider.com/articles/22/03/04/what-apple-risks-by-stopping-all-sales-operations-in-russia

blastdoor

greginprague said:

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

Um, no.  The population of Russia is 144 million and decreasing.

And Russia has an economy the size of New York State. 

Russia has great wealth in natural resources, but that wealth is squandered by corrupt, decadent, and/or delusional leaders. Basically, imagine the state of Texas but remove Austin and  Dallas, then move Koch Industries to Houston from Wichita. Finally, remove all news sources other than Fox. That’s Russia, +/-

tmay

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

144 millon population, and an economy about the size of South Korea or Australia.

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

Russia is a rounding error in worldwide consumer spending. 

verne arase

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

Despite its population, I’m not sure that Russia consumed that great a quantity of consumer electronics.

Certainly the large metropolitan areas like Moscow and St. Petersburg, but outside those areas Russia is surprisingly unsophisticated and rather backwards.

I’ve often heard Russia described as a third world country with a big military and the bomb.

The kleptocracy of those in power have severely restricted Russia’s move into western prosperity, as do all autocracies. The only reason China has done as well as it has is due to the fact that western countries have willingly exported so much manufacturing to that country.

avon b7

verne arase said:

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

Despite its population, I’m not sure that Russia consumed that great a quantity of consumer electronics.

Certainly the large metropolitan areas like Moscow and St. Petersburg, but outside those areas Russia is surprisingly unsophisticated and rather backwards.

I’ve often heard Russia described as a third world country with a big military and the bomb.

The kleptocracy of those in power have severely restricted Russia’s move into western prosperity, as do all autocracies. The only reason China has done as well as it has is due to the fact that western countries have willingly exported so much manufacturing to that country.

One of the major differences between China and Russia was that Chinese people were moving all over the globe and prospering. Many were successful and eventually set up businesses with links back to mainland China. 

Russians, in stark contrast, didn't really venture too far from the mainland. 

Decades later and with everything else that has happened in terms of trade (Hong Kong and geographical considerations included), China is thriving.

On paper, Russia had everything going for it to slowly become a major source of revenue for more developed nations. 

All that potential has probably been set back a few decades now. 

tmay

avon b7 said:

verne arase said:

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

Despite its population, I’m not sure that Russia consumed that great a quantity of consumer electronics.

Certainly the large metropolitan areas like Moscow and St. Petersburg, but outside those areas Russia is surprisingly unsophisticated and rather backwards.

I’ve often heard Russia described as a third world country with a big military and the bomb.

The kleptocracy of those in power have severely restricted Russia’s move into western prosperity, as do all autocracies. The only reason China has done as well as it has is due to the fact that western countries have willingly exported so much manufacturing to that country.

One of the major differences between China and Russia was that Chinese people were moving all over the globe and prospering. Many were successful and eventually set up businesses with links back to mainland China. 

Russians, in stark contrast, didn't really venture too far from the mainland. 

Decades later and with everything else that has happened in terms of trade (Hong Kong and geographical considerations included), China is thriving.

On paper, Russia had everything going for it to slowly become a major source of revenue for more developed nations. 

All that potential has probably been set back a few decades now. 

The West is waking up to the nature of authoritarianism with Russia's aggression, and China should be concerned that supply chains will be reestablished elsewhere due to National Security concerns of the West. China is no longer "thriving"; see Shanghai...

waveparticle

avon b7 said:

verne arase said:

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

Despite its population, I’m not sure that Russia consumed that great a quantity of consumer electronics.

Certainly the large metropolitan areas like Moscow and St. Petersburg, but outside those areas Russia is surprisingly unsophisticated and rather backwards.

I’ve often heard Russia described as a third world country with a big military and the bomb.

The kleptocracy of those in power have severely restricted Russia’s move into western prosperity, as do all autocracies. The only reason China has done as well as it has is due to the fact that western countries have willingly exported so much manufacturing to that country.

One of the major differences between China and Russia was that Chinese people were moving all over the globe and prospering. Many were successful and eventually set up businesses with links back to mainland China. 

Russians, in stark contrast, didn't really venture too far from the mainland. 

Decades later and with everything else that has happened in terms of trade (Hong Kong and geographical considerations included), China is thriving.

On paper, Russia had everything going for it to slowly become a major source of revenue for more developed nations. 

All that potential has probably been set back a few decades now. 

Russia technology is pretty good. It looks bad only when compared to the western world. Russia economy did not advance fast primarily due to its low population. Europe has 746 million people. Russia has 146 million. That is 600 to 146 ration, or 4 to 1. That means Europe can produce four times more technology than Russia. China has 1,440 million people. That is a ration of ten to one. Of course, China productivity is much higher than Russia. Unless China economy is suppressed like the five eyes coalition nations are trying very hard to do.

To catch up with economic growth, the only sure way is to open up the country. Russia has tried to do that in the last thirty years. But the US-British alliance has been trying to curb it. Unless Russia agrees to be under control. 

tmay

waveparticle said:

avon b7 said:

verne arase said:

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

Despite its population, I’m not sure that Russia consumed that great a quantity of consumer electronics.

Certainly the large metropolitan areas like Moscow and St. Petersburg, but outside those areas Russia is surprisingly unsophisticated and rather backwards.

I’ve often heard Russia described as a third world country with a big military and the bomb.

The kleptocracy of those in power have severely restricted Russia’s move into western prosperity, as do all autocracies. The only reason China has done as well as it has is due to the fact that western countries have willingly exported so much manufacturing to that country.

One of the major differences between China and Russia was that Chinese people were moving all over the globe and prospering. Many were successful and eventually set up businesses with links back to mainland China. 

Russians, in stark contrast, didn't really venture too far from the mainland. 

Decades later and with everything else that has happened in terms of trade (Hong Kong and geographical considerations included), China is thriving.

On paper, Russia had everything going for it to slowly become a major source of revenue for more developed nations. 

All that potential has probably been set back a few decades now. 

Russia technology is pretty good. It looks bad only when compared to the western world. Russia economy did not advance fast primarily due to its low population. Europe has 746 million people. Russia has 146 million. That is 600 to 146 ration, or 4 to 1. That means Europe can produce four times more technology than Russia. China has 1,440 million people. That is a ration of ten to one. Of course, China productivity is much higher than Russia. Unless China economy is suppressed like the five eyes coalition nations are trying very hard to do.

To catch up with economic growth, the only sure way is to open up the country. Russia has tried to do that in the last thirty years. But the US-British alliance has been trying to curb it. Unless Russia agrees to be under control. 

Nice bit of propaganda you posted...and an extremely poor analysis of productivity. Given the amount of Russian money that flowed into the U.S., Britain, and the EU, to influence governments, politicians, and media leaders, I'd say that Russia ultimately came up short on their investment. 

Russia failed almost entirely due of its system of government, not external influences. But of course, the Russian military being a paper tiger because of the massive corruption of those that lead it, and those that produce its military equipment, might have something to do with what vise that Russia finds itself in today.

What message should China gain from all this?

https://www.reuters.com/world/china/eu-push-china-summit-not-help-russia-ukraine-war-2022-03-31/

'DEFINING MOMENT'

China has concerns that European countries are taking harder-line foreign policy cues from Washington and has called for the EU to "exclude external interference" from its relations with China. In 2019, the EU abruptly switched from soft diplomatic language to label China a systemic rival.

The EU, Britain and the United States have sanctioned Chinese officials over alleged human rights abuses in the Xinjiang region, which prompted Beijing to retaliate in kind, freezing an already-negotiated EU-China investment deal.

China has since also suspended imports from Lithuania after the Baltic EU nation allowed Taiwan to open a de facto embassy in its capital, angering Beijing which regards the democratically ruled island as its own territory.

Von der Leyen said Beijing needed to defend the international order that has made China the world's second-largest economy. The West says Russia's invasion of Ukraine is a violation of the United Nations charter.

"It is a defining moment because nothing will be like it was before the war. It's now a question to take a very clear stance to support and defend the rules-based order," she said.

China does not want to be part of the "rules-based order".

Certainly leads to some downsides for China.

https://abcnews.go.com/International/wireStory/ukraine-top-agenda-china-eu-prepare-meet-summit-83803864

waveparticle

tmay said:

waveparticle said:

avon b7 said:

verne arase said:

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

Despite its population, I’m not sure that Russia consumed that great a quantity of consumer electronics.

Certainly the large metropolitan areas like Moscow and St. Petersburg, but outside those areas Russia is surprisingly unsophisticated and rather backwards.

I’ve often heard Russia described as a third world country with a big military and the bomb.

The kleptocracy of those in power have severely restricted Russia’s move into western prosperity, as do all autocracies. The only reason China has done as well as it has is due to the fact that western countries have willingly exported so much manufacturing to that country.

One of the major differences between China and Russia was that Chinese people were moving all over the globe and prospering. Many were successful and eventually set up businesses with links back to mainland China. 

Russians, in stark contrast, didn't really venture too far from the mainland. 

Decades later and with everything else that has happened in terms of trade (Hong Kong and geographical considerations included), China is thriving.

On paper, Russia had everything going for it to slowly become a major source of revenue for more developed nations. 

All that potential has probably been set back a few decades now. 

Russia technology is pretty good. It looks bad only when compared to the western world. Russia economy did not advance fast primarily due to its low population. Europe has 746 million people. Russia has 146 million. That is 600 to 146 ration, or 4 to 1. That means Europe can produce four times more technology than Russia. China has 1,440 million people. That is a ration of ten to one. Of course, China productivity is much higher than Russia. Unless China economy is suppressed like the five eyes coalition nations are trying very hard to do.

To catch up with economic growth, the only sure way is to open up the country. Russia has tried to do that in the last thirty years. But the US-British alliance has been trying to curb it. Unless Russia agrees to be under control. 

Nice bit of propaganda you posted...and an extremely poor analysis of productivity. Given the amount of Russian money that flowed into the U.S., Britain, and the EU, to influence governments, politicians, and media leaders, I'd say that Russia ultimately came up short on their investment. 

Russia failed almost entirely due of its system of government, not external influences. But of course, the Russian military being a paper tiger because of the massive corruption of those that lead it, and those that produce its military equipment, might have something to do with what vise that Russia finds itself in today.

What message should China gain from all this?

LOL Good try to hide the truth that US is the most powerful nation in the world. 

tmay

waveparticle said:

tmay said:

waveparticle said:

avon b7 said:

verne arase said:

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

Despite its population, I’m not sure that Russia consumed that great a quantity of consumer electronics.

Certainly the large metropolitan areas like Moscow and St. Petersburg, but outside those areas Russia is surprisingly unsophisticated and rather backwards.

I’ve often heard Russia described as a third world country with a big military and the bomb.

The kleptocracy of those in power have severely restricted Russia’s move into western prosperity, as do all autocracies. The only reason China has done as well as it has is due to the fact that western countries have willingly exported so much manufacturing to that country.

One of the major differences between China and Russia was that Chinese people were moving all over the globe and prospering. Many were successful and eventually set up businesses with links back to mainland China. 

Russians, in stark contrast, didn't really venture too far from the mainland. 

Decades later and with everything else that has happened in terms of trade (Hong Kong and geographical considerations included), China is thriving.

On paper, Russia had everything going for it to slowly become a major source of revenue for more developed nations. 

All that potential has probably been set back a few decades now. 

Russia technology is pretty good. It looks bad only when compared to the western world. Russia economy did not advance fast primarily due to its low population. Europe has 746 million people. Russia has 146 million. That is 600 to 146 ration, or 4 to 1. That means Europe can produce four times more technology than Russia. China has 1,440 million people. That is a ration of ten to one. Of course, China productivity is much higher than Russia. Unless China economy is suppressed like the five eyes coalition nations are trying very hard to do.

To catch up with economic growth, the only sure way is to open up the country. Russia has tried to do that in the last thirty years. But the US-British alliance has been trying to curb it. Unless Russia agrees to be under control. 

Nice bit of propaganda you posted...and an extremely poor analysis of productivity. Given the amount of Russian money that flowed into the U.S., Britain, and the EU, to influence governments, politicians, and media leaders, I'd say that Russia ultimately came up short on their investment. 

Russia failed almost entirely due of its system of government, not external influences. But of course, the Russian military being a paper tiger because of the massive corruption of those that lead it, and those that produce its military equipment, might have something to do with what vise that Russia finds itself in today.

What message should China gain from all this?

LOL Good try to hide the truth that US is the most powerful nation in the world. 

You might want to consider why the U.S. is in fact "the most powerful nation in the world". Do you need help with that?

tmay

Paul_B said:

All Russia needs to do is turn off the tap for natural gas and petroleum lines to Western Europe, they can do this in a blink of an eye, and export to China with zero consequence.  Russia is also the bread basket for Europe, as for technology, they can import anything from neighbouring countries to the south and east.  Russian ports freeze, Ukrainian ports do not freeze, that is why they annexed Crimea which is 90 percent Russian anyway in 12 hours without a shot being fired (military genius) .  Russia doesn't need Europe, Europe needs Russia.  Do you think Russia needs chocolate from France?  They can get it anyways.  They got the ports, mission accomplished.  The rest is because the puppet Government of Ukraine pissed them off.  Don't poke the Bear.  They've been planning this for eight years, Europe will suffer, pass the popcorn.

Good luck on how your minority opinion plays out. Everybody else sees a failed state, with increasing population declines, becoming, at best, a vassal of China. That's the result of relying almost entirely on export of energy, raw materials, fertilizer, and agricultural products. Military exports are likely to suffer given the technology content that the West has been selling Russia, now sanctioned. Russia's airline industry is headed for collapse from lack of parts, so welcome to the land of multiday rail travel.

Did I mention that it's quite possible that China will halve its population in 40 years? That China will likely never surpass the U.S. for GDP, all because of an over-aged population, and an increasing autocratic government. A match made in heaven for Russia.

Paul_B

verne arase said:

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

Despite its population, I’m not sure that Russia consumed that great a quantity of consumer electronics.

Certainly the large metropolitan areas like Moscow and St. Petersburg, but outside those areas Russia is surprisingly unsophisticated and rather backwards.

I’ve often heard Russia described as a third world country with a big military and the bomb.

The kleptocracy of those in power have severely restricted Russia’s move into western prosperity, as do all autocracies. The only reason China has done as well as it has is due to the fact that western countries have willingly exported so much manufacturing to that country.

All Russia needs to do is turn off the tap for natural gas and petroleum lines to Western Europe, they can do this in a blink of an eye, and export to China with zero consequence.  Russia is also the bread basket for Europe, as for technology, they can import anything from neighbouring countries to the south and east.  Russian ports freeze, Ukrainian ports do not freeze, that is why they annexed Crimea which is 90 percent Russian anyway in 12 hours without a shot being fired (military genius) .  Russia doesn't need Europe, Europe needs Russia.  Do you think Russia needs chocolate from France?  They can get it anyways.  They got the ports, mission accomplished.  The rest is because the puppet Government of Ukraine pissed them off.  Don't poke the Bear.  They've been planning this for eight years, Europe will suffer, pass the popcorn.

waveparticle

TSMC Arizona fab unlikely to earn without government subsidies

Monica Chen, Taipei; Jessie Shen, DIGITIMESWednesday 30 March 20220

Credit: Semiconductor companies

It may be hard for TSMC to generate profits from its new advanced wafer fab in Arizona when the facility becomes operational, if the US government fails to carry out its commitment to relevant subsidies and support, according to industry observers.

https://www.digitimes.com/news/a20220330PD212.html

tmay

waveparticle said:

TSMC Arizona fab unlikely to earn without government subsidies

Monica Chen, Taipei; Jessie Shen, DIGITIMESWednesday 30 March 20220

Credit: Semiconductor companies

It may be hard for TSMC to generate profits from its new advanced wafer fab in Arizona when the facility becomes operational, if the US government fails to carry out its commitment to relevant subsidies and support, according to industry observers.

https://www.digitimes.com/news/a20220330PD212.html

...and?

The U.S. Government wanted that fab to insure that the U.S. military would have access to leading edge fabs in the event of China invading Taiwan. See how the works? Of course it will be subsidized.

tmay

waveparticle said:

tmay said:

waveparticle said:

TSMC Arizona fab unlikely to earn without government subsidies

Monica Chen, Taipei; Jessie Shen, DIGITIMESWednesday 30 March 20220

Credit: Semiconductor companies

It may be hard for TSMC to generate profits from its new advanced wafer fab in Arizona when the facility becomes operational, if the US government fails to carry out its commitment to relevant subsidies and support, according to industry observers.

https://www.digitimes.com/news/a20220330PD212.html

...and?

The U.S. Government wanted that fab to insure that the U.S. military would have access to leading edge fabs in the event of China invading Taiwan. See how the works? Of course it will be subsidized.

LOL

The Lol must be the sad laugh you have when you realize that China is still working on perfecting its first 7nm node, and barely has any capacity at 10nm. 

tmay

avon b7 said:

verne arase said:

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

Despite its population, I’m not sure that Russia consumed that great a quantity of consumer electronics.

Certainly the large metropolitan areas like Moscow and St. Petersburg, but outside those areas Russia is surprisingly unsophisticated and rather backwards.

I’ve often heard Russia described as a third world country with a big military and the bomb.

The kleptocracy of those in power have severely restricted Russia’s move into western prosperity, as do all autocracies. The only reason China has done as well as it has is due to the fact that western countries have willingly exported so much manufacturing to that country.

One of the major differences between China and Russia was that Chinese people were moving all over the globe and prospering. Many were successful and eventually set up businesses with links back to mainland China. 

Russians, in stark contrast, didn't really venture too far from the mainland. 

Decades later and with everything else that has happened in terms of trade (Hong Kong and geographical considerations included), China is thriving.

On paper, Russia had everything going for it to slowly become a major source of revenue for more developed nations. 

All that potential has probably been set back a few decades now. 

Shanghai thriving? Not so much...

https://www.theguardian.com/world/2022/apr/08/desperation-amid-food-shortages-in-shanghai-as-covid-lockdown-bites

Epic fuckup threatens Xi's power...

avon b7

tmay said:

avon b7 said:

verne arase said:

waveparticle said:

blastdoor said:

Ukraine is/was a major food exporter, so food prices are likely to go up a lot this year. That will likely reduce spending on consumer electronics, especially in countries where food represents a larger share of household expenditures. 

No, it is the loss of sales to Russia which has a population over 200,000,000.

Despite its population, I’m not sure that Russia consumed that great a quantity of consumer electronics.

Certainly the large metropolitan areas like Moscow and St. Petersburg, but outside those areas Russia is surprisingly unsophisticated and rather backwards.

I’ve often heard Russia described as a third world country with a big military and the bomb.

The kleptocracy of those in power have severely restricted Russia’s move into western prosperity, as do all autocracies. The only reason China has done as well as it has is due to the fact that western countries have willingly exported so much manufacturing to that country.

One of the major differences between China and Russia was that Chinese people were moving all over the globe and prospering. Many were successful and eventually set up businesses with links back to mainland China. 

Russians, in stark contrast, didn't really venture too far from the mainland. 

Decades later and with everything else that has happened in terms of trade (Hong Kong and geographical considerations included), China is thriving.

On paper, Russia had everything going for it to slowly become a major source of revenue for more developed nations. 

All that potential has probably been set back a few decades now. 

Shanghai thriving? Not so much...

https://www.theguardian.com/world/2022/apr/08/desperation-amid-food-shortages-in-shanghai-as-covid-lockdown-bites

Epic fuckup threatens Xi's power...

Yes. Thriving. 

Go back and look at the China from 40 years ago. Look at the changes. 

And why are you confusing Shanghai with China? Why are you confusing an exceptional and unpreventable health related situation (a pandemic) with the bigger picture?