Posted on 04/23/2022 4:06:07 PM PDT by EBH
A supply chain nightmare
One in five container ships is now stuck at ports worldwide, with 30% of the backlog coming from China. And Lars Jensen, the CEO of the shipping container industry consulting firm Vespucci Maritime, told Fortune that the full impact of China’s policies will only begin to reveal itself over the coming weeks.
“Companies are beginning to panic. The downstream impact is coming, and it’ll be heavy.” John Bree, the chief risk officer at Supply Wisdom, said. “The latest China lockdowns combined with the Russia-Ukraine war is too heavy a burden. The global chaos is going to further exacerbate disruption and take inflation to a new level.”
Bree’s statement is backed up by recent reports from investment banks, which are also warning of the economic impacts of China’s lockdowns. Bank of America analysts led by Ethan Harris said in a note to clients on Friday that it’s yet “another adverse supply shock for the global economy” that will weaken growth and extend the period of high inflation.
And Dylan Alperin, head of professional services at the supply chain software firm Keelvar, noted that transportation costs make up 7.7% of global GDP, which means delays at ports typically lead to rising inflation.
“The freight cost for a single container from China to the U.S. went from $5,900 last year to $15,764 today,” Alperin said. The impact of those price increases alone could significantly drive inflation up globally, he added.
(Excerpt) Read more at fortune.com ...
It’s amazing to me how fast the Democrats have F’ed up the entire world.
Don’t buy anything from China.
All part of “the plan”.
It truly is amazing.
So who will Democrats blame? Trump? Putin? Or both?
But the little darlings now a days do not want to work. So manufacturing if it ever came back would have a hard time finding reliable workers.
“But the little darlings now a days do not want to work. So manufacturing if it ever came back would have a hard time finding reliable workers.”
I think more would work than you think. But, if they didn’t, then build the factories in South Texas, and let the Mexicans walk across the border every day on a work visa.
Robots. Until they attack us. Illegals already attack us, so robots are better.
... manufacturing if it ever came back would have a hard time finding reliable workers.
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Scarcity, hunger, lack of physical comfort and some experience with having to make/repair things or do without could change that.
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