The Potential Consequences of a New China COVID Lockdown

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 16 March 2022

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Arculus and FTX US. Over the past few weeks, China has instituted partial or full lockdowns in Shanghai, Jilin, Shenzhen and other cities. While this story is barely being covered in mainstream media, the crypto and finance communities are concerned that these lockdowns could lead to even more supply chain disruptions at an extremely vulnerable moment for the global economy. - Take your crypto to the next level with Nexo. Invest and swap instantly, earn up to 20% APR on your idle assets or borrow cash against them at industry-leading rates. Get started today at nexo.io to receive up to a $100 welcome bonus. Valid through March 31. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer and more secure solution to store, send, receive, buy and swap your crypto. Buy now at amazon.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW _ “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: wonry/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Bringing it back to our first question, the consequences of a new China COVID lockdown,
0:05.2	of course much depends on just how long this lockdown lasts.
0:09.3	If it is short, perhaps it only adds minorly to the already intense inflationary pressures
0:13.8	around the world.
0:15.2	If, on the other hand, it becomes a protracted lockdown that further disrupts the global
0:19.5	economy, the consequences could be much more serious.
0:24.1	Welcome back to The Breakdown with me, NLW.
0:28.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:33.9	The breakdown is sponsored by nexo.io, Arculus, and FTX, and produced and distributed by CoinDesk.
0:41.9	What's going on, guys? It is Tuesday, March 15th, and today we are talking about the consequences,
0:48.6	or potential consequences, of a new China COVID lockdown. However, before we get into that, if you were enjoying the breakdown, please go subscribe,
0:57.6	rate, review, you know, the whole schick.
0:59.9	And of course, if you want to get deeper into the conversation, I would love for you to come
1:04.2	join us on the Breakers Discord.
1:05.9	You can find a link in the show notes or go to bit.orgly slash breakdown pod.
1:10.0	Also, a disclosure, as always, in addition to them being a sponsor of the show notes are go to bit.ly slash breakdown pod. Also, a disclosure as always in addition to them
1:12.6	being a sponsor of the show, I also work with FTX. Now, to get this show started, let's go back to
1:19.5	February two years ago, 2020. It's a really weird moment for those of us in the crypto world and to a lesser
1:27.0	extent, the
1:27.5	financial world in general.
1:29.6	Anyone who has sort of business dealings or regular contact with China is watching this new mystery
1:35.7	disease just absolutely shut down huge parts of that country.
	...

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