Iran War Devastates China’s Economy, Businesses Shut Down, Wages Drop to 30 Years Ago
Iran War Devastates China’s Economy, Businesses Shut Down, Wages Drop to 30 Years Ago
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In March 2026, a sudden oil crisis swept across the globe. As the world's largest manufacturing country, China was the first to feel the full impact of this crisis. In the Pearl River Delta, once a bustling industrial hub full of lights and machine noises, the economic vitality has clearly weakened. The industrial parks, once busy with traffic, now appear unusually quiet. Factory orders have sharply decreased, and the operating rate has plummeted. The textile industry, a traditional pillar of the economy, has been hit hardest.
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