Get Ready For "Mother Of All" Supply Chain Shocks As China Locks Down Major Ports
With sailing schedules already facing delays of about a week, freight forwarders warn of the impact on already back-logged gateways in Europe and the US and is also why HSBC economists are warning that the world economy could be headed for the “mother of all” supply chain shocks if the highly infectious omicron variant which is already swamping much of the global economy spreads across Asia, especially China, at which point disruption to manufacturing will be inevitable.
"Temporary, one would hope, but hugely disruptive all the same" in the next few months, they wrote in a research note this week first noted by Bloomberg.
For those who have forgotten last year's global shockwave when China locked down its ports for several days, a quick reminder: it led to an unprecedented hiccup in global logistics and shipping which hasn't been resolved to this day. That's because China is the world’s biggest trading nation and its ability to keep its factories humming through the pandemic has been crucial for global supply chains.-
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