(FinancialHealth.net) – With the sudden surge of COVID-19 cases in the United States now reaching a pandemic level, the need to stockpile has caused its own set of issues. People are rushing to stockpile necessities like toilet paper, food, and water — often to the point of creating Black Friday style chaos at stores.
Now, US officials are growing especially concerned about the potential for China to withhold critical drug supplies — including medical exports like antibiotics, aspirin and surgical masks. That’s a deep concern at a time when many of these supplies are being used on the front lines to treat coronavirus in hospitals.
China produces up to 80% of the ingredients found in America’s prescription drugs, which means they could retaliate against travel bans by skyrocketing prices.
This might seem like an absurd or unthinkable move. But China’s major media outlet, Xinhua News, recently posted a cryptic article that smelled suspiciously of blackmail.
One roughly translated passage reads as follows:
“If China retaliates against the United States at this time, in addition to announcing a travel ban on the United States, it will also announce strategic control over medical products and ban exports to the United States.”
Make no mistake, the US WILL feel the fallout of a Chinese ban on medical supply exports if such a move occurs. The medical industry is already suffering with a lack of certain critical items, including ventilators and masks.
~Here’s to Your Financial Health!
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