Nearly 7900 new covid cases saturday and 38 deaths. but those numbers are down slightly over the past few days. now, shanghai is the engine of china s $18 trillion economy. and the city s strict covid lockdown could come at a heavy cost. kristie lu stout explains for us. reporter: it is china s biggest and most affluent city, and the streets have been empty for weeks. shanghai is battling its worst ever covid-19 outbreak determined to crush it with its zero covid policy. it comes at a steep cost to its economy and has implications for the world. we re forecasting that the lockdown in shanghai will rock china s economy, you know, shanghai is an economic powerhouse, it holds one of the two stock exchanges, shanghai s port counts for something like 3% of global through-put at any given time. reporter: shanghai is home to the world s biggest container port, and it remains operational, but according to
It comes at the a steep cost to its economy and has implications for the word. we re forecasting that the lockdown in shanghai will rock china s economy. shanghai is an economic powerhouse for china. it holds one of the two stock exchanges. shanghai s port accounts for something like 3% of global through-put at any given time. reporter: shanghai is home to the world s busiest container port. it remains operational, but according to logistics platform project 44, on april 18th, some ships have been diverted away due to truck shortages, but the containers are piling up at the port, waiting on average for 12 days before they re picked up and delivered compared to just over four days in late march. shanghai is also a major aviation hub, but the outbreak has forced the suspension of many flights, causing air freight rates to skyrocket. all of this is putting even more pressure on global supply chains. this is having a supply shock. a lot of these shipments now