Containers sit stacked on a cargo ship berthed at China’s Zhoushan Port on Feb. 4, 2020. China’s COVID-19 outbreak and the subsequent closing of factories caused outbound shipping from the country to drop significantly at the beginning of the year.
By sapping global economic growth and emboldening nationalist calls against globalization, the COVID-19 crisis risks upending the past 30 years of rising intercontinental trade volumes. Countries have implemented various new shipping restrictions to contain the virus, though pandemic-induced declines in demand have so far prevented severe disruptions. But with the global recession...
TO READ THE FULL ARTICLE
Copyright © Stratfor Enterprises, LLC. All rights reserved.