Global supply situation worsens on the back of China’s lockdown

Supplies between the European, American and Asian regions may be seriously disrupted amid a lockdown imposed in China. In addition to the suspension of warehouse operations in the country, restrictions were imposed on cargo shipments, resulting in congestion at local ports. China's share in world trade is about 12%. According to experts, this will exacerbate the already existing supply problems accompanying the Ukrainian conflict and cause an additional blow to the global economic recovery. The administration of one of the key European seaports, according to its head Jacques Vandermeiren, is preparing for a worsening situation with the delivery of goods. As the head predicts, the failures will have a serious negative impact on the current year. Ports in the USA and Europe are already very busy at the moment. Congestion in the near future threatens to increase the cost of world trade by 22 trillion dollars, and in the longer term - serious changes that will affect the structure of the world economy, an integral part of which today is transnational trade.