While lockdowns in China have contributed to a 40% drop in the country’s GDP, there’s also been a drop of 31% in container volumes out of the country this month alone. And the longer lockdowns continue, the worse things will get. Unfortunately, when lockdowns are lifted and all that pent-up demand is released, there’ll be further havoc in the industry. A return to the backlogs of last year will be...
It is a challenging time for all of us as businesses, as well as individuals. When you’re up against strict, yet inconsistent, controls that slow time-sensitive exports and create gaps throughout international supply chains, it can be hard to keep up with soaring global demand for certain items. The problem is compounded by attempts made by major sources of manufacturing, like China, to shorten le...