This aerial photo taken on June 22, 2021 shows a view of Yantian port in Shenzhen in China's southern Guangdong province. - A backlog at Yantian port - China's largest container terminal - caused by a Covid-19 outbreak among port workers will take several weeks to clear, the world's biggest shipping firm said on June 21.
If extensive lockdowns become more widespread in China, their effects on supply chains could be felt across the United States. Major new disruptions could depress consumer confidence and exacerbate inflation, which is already at a 40-year high, posing challenges for the Biden administration and the Federal Reserve.
For the 2021 holiday season, customers largely circumvented those challenges by ordering early. High shipping prices began to ease after the holiday rush, and some analysts speculated that next month’s Lunar New Year, when many Chinese factories will idle, might be a moment for ports, warehouses and trucking companies to catch up on moving backlogged orders and allow global supply chains to return to normal.
Yet those greater efficiencies have been undercut by continuing problems at other stages of the supply chain, including a shortage of truckers and warehouse workers to move the goods to their final destination.
“Right now, we are at the tail end of one flavor of those challenges: the port snarls,” he said, adding that Chinese lockdowns could be “the next flavor of this.” “What we’re concerned with now is, is Xi’an a template for other cities in China?” he asked. “If they can’t control it in the next two or three weeks, then I think you could have a significant impact on the supply chain. Right now, it’s kind of the tipping point.”
China plans similar arrangements to keep athletes and other foreigners completely separate from its population during the Winter Olympics next month. Beijing traffic authorities have even told residents to stay away from any vehicle collisions involving Olympic participants, to avoid infection.
Here’s an idea. Maybe the US should stop exploiting cheap labor for cheap goods from China and start making their own crap at home and employing people in the US. Two problems solved. JoeBiden KamalaHarris
(Waits for Biden to get blamed...).
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Gartner_inc - 🏆 455. / 53 Read more »
Source: DailyFX - 🏆 305. / 63 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: WSJhealth - 🏆 413. / 53 Read more »
Source: trtworld - 🏆 101. / 63 Read more »