Global investors’ eyes are focused on the Fed—and U.S. inflation. To understand how the latter will evolve, they should pay more attention to the world’s second-largest economy.
The first channel is further grit in the global supply chain. Stringent measures to contain the Omicron variant in the world’s largest manufacturer haveand logistics networks. Many cities, including Shanghai, have been in lockdown for weeks. Factories have been shut and ports congested. China’s industrial production in April fell 2.9% year on year while exports growth in dollar terms decelerated to 3.9%—the slowest pace in almost two years.
Slower exports from China and easing of port congestion in the U.S. West Coast have recently meant lower freight rates. But the container backlog in Shanghai port as Chinese exports rebound to make up for lost time will also likely spill over to the West Coast in the summer months, according to Fitch Ratings.
I told before, It’s another battlefield of Ukraine, CCP is helping Russia secretly
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