Port congestion delays in southern China caused by new coronavirus outbreaks could disrupt global supply chains. This poses a threat to world trade and, most likely, will lead to a jump in prices, writes Bloomberg.
Delays have already led to higher shipping costs in China due to container shortages and increased export demand, said Josh Brasil, vice president of marketing for Project44. High transport costs are just one factor that could contribute to the looming threat of global inflation, he said.
Previously, experts estimated the losses to the global economy from interruptions in supply chains. According to analysts at Euler Hermes, losses could cost hundreds of billions of dollars in 2021.
Since the beginning of the year, there have already been disruptions in the supply chains of goods, for example, due to a shortage of containers and a shortage of semiconductors. All of this could lead to a 1.4 percentage point reduction in real world trade growth, which is about $ 230 billion.