U.S. Manufacturers Face Staff Shortages In China Due to Coronavirus, Survey Reveals

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BARINDUSTRIALS status modified wordcount 682 wordcount|682 id facebook id|facebook news_tab_url https://www.barrons.com/articles/u-s-manufacturers-in-china-say-there-is-a-shortage-of-workers-amid-covid19-51581956335 AFP via Getty Images AFP via Getty Images AFP via Getty Images AFP via Getty Images AFP via Getty Images AFP via Getty Images AFP via Getty Images AFP via Getty Images AFP via Getty Images AFP via Getty Images AFP via Getty Images AFP via Getty Images AFP via Getty Images AFP via Getty Images AFP via Getty Images U.S. Manufacturers Face Staff Shortages In China Due to Coronavirus, Survey Reveals U.S. Manufacturers Face Staff Shortages In China Due to Coronavirus, Survey Reveals U.S. Manufacturers in China Say There is a Shortage of Workers Amid COVID—19

What is it going to take to get China up and running amid the COVID—19 outbreak? A survey by the American Chamber of Commerce in Shanghai shows that there aren’t enough workers yet to really make a dent.

U.S. Manufacturers Face Staff Shortages In China Due to Coronavirus, Survey Reveals

China is struggling to get its more than a billion workers back on the job amid the continuing COVID—19 outbreak. A new survey reveals the extent of that tough task.

https://www.amcham-shanghai.org/en/article/supply-chains-and-factory-openings-amcham-shanghai-mini-survey https://www.marketwatch.com/story/volkswagen-delays-reopening-of-chinese-plants-2020-02-17-24852846 https://www.barrons.com/articles/coronavirus-will-continue-to-rile-markets-these-3-sectors-wont-recover-soon-51581597001 U.S. Manufacturers Face Staff Shortages In China Due to Coronavirus, Survey Reveals By Barbara Kollmeyer AFP via Getty Images Workers producing medical supplies at a factory in Binzhou in China's eastern Shandong province (Photo by STR/AFP via Getty Images)

As investors watch closely to see how quickly China can get its more than one billion workers back on the job amid the continuing coronavirus outbreak, a new survey reveals just how tough a task that may be.

According to a mini survey by the American Chamber of Commerce in Shanghai, 78% of companies say they don’t have enough staff to run a full production line. The business organization surveyed its members with manufacturing operations in Shanghai, Suzhou, Nanjing and the wider Yangtze River Delta last week and received 109 responses.

Some 41% of companies say a lack of staff will be the biggest challenge in the next 2-4 weeks, while 30% say logistics issues will be their biggest concern. And 48% of companies reported global operations have been affected by shutdown across China from late January as officials grappled with the virus, which has been officially named COVID-19.

On Monday, Chinese authorities reported 105 more deaths, taking the total death toll up to 1,770. Officials announced 2,048 new cases with the total number of people infected rising above 71,000.

One concern as China tries to get back to work is that there isn’t enough protective gear to go around, given reports of shortages across China. The American Chamber of Commerce said 38% of those surveyed said they lack sufficient masks and other supplies to keep employees safe from COVID-19.

Reports of delays keep trickling in. Auto maker Volkswagen announced Monday that it would be pushing back the reopening of some of its Chinese plants. Those include the Saic Volkswagen joint venture, with operations there due to resume Feb. 24. But the company said it expects all plants to be operational in the next few days.

Investors have been closely watching companies such as Foxconn, a major assembler of Apple iPhones. Reports last week indicated that some Foxconn factories remained closed, while others were running with skeleton crews, and analysts have warned that Apple earnings could face fallout from delays.

Look ahead: Neil Shearing, group chief economist at Capital Economics, said that investors may not be considering the potential long-term damage of a shutdown. “If workplaces reopen soon, we think activity should rebound relatively quickly with lost output recovered over the rest of this year,” he said.

“But a prolonged shutdown could mean lost output is never recovered. It would also increase the likelihood that the virus triggers a ‘black swan’ type event either in China (keep one eye on the property market) or farther afield (keep one eye on the energy sector),” he added.

If the American Chamber of Commerce “mini” survey is any indication, investors may be in for a long wait until the coronavirus is in the rear-view mirror. Even then, the world’s economies may keep looking over their shoulders.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.