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"From that moment I knew that we were going to have a crisis for healthcare workers, because we were not taking action, we were already behind the ball," he told lawmakers. "That was our last window of opportunity to turn on that production to save the lives of those healthcare workers, and we didn't act."

"Given the substantial production plan reduction, Spirit could breach the financial covenants under its credit agreement in the fourth quarter of 2020 without an amendment or waiver," the company said in the SEC filing.

"From a 5G telecom equipment point of view, I don't think this hurts the company too badly, but this will hurt in 5G smartphones and any aspirations in the 5G edge data center," said Patrick Moorhead, president and principal analyst of Moor Insights and Strategy, a global technology consulting company.

"From my experience, in the petrochemical industry, the international market usually lacks sufficient understanding of Chinese products, so sometimes they don't accept Chinese equipment," Sun Songquan, vice-general manager of the sourcing department of SEG, said during a panel discussion on Tuesday at a Belt and Road Forum in Urumqi, the Xinjiang Uygur autonomous region.

"Globalization is here, and it's here to stay. There is no way we can turn back the clock," he said.