Is Disney's Relationship With China a Bigger Risk Than COVID-19 for Disney Stock?

COVID-19 is arguably the worst thing to happen to Disney (NYSE: DIS) in decades. Disney and its stock have suffered as theme parks and theaters have had to operate at reduced capacity (if they can open at all). On top of that major headwind, the increasingly strained relationship between the U.S. and Chinese governments has brought uncertainty to a key growth region for the company, creating another challenge for management.