The WTO chief warns against the economic cold war: Ngozi Okonjo-Iweala tells POLITICO that now is not the time to withdraw from global trade and warns that the division of supply chains for political reasons would be detrimental to the world economy. A recent study shows that dividing the world into two separate economic blocs could "lead to a 5% decrease in global real GDP in the long term," she said. "This is a really staggering number."
Trade shows executives talk to Footwear News about what to expect from the next editions of FFANY, Magic, Micam and others, after a period of growth stimulated by post-quarantine spending and the return of the events just ended, which have brought the challenges of the supply chain and the increase in inflation, two topics that will certainly be in first place during the next fairs.
A comment from the Guardian on the United States trying to ease dependence on China since pandemic lockdowns sparked a global supply chain crisis. However, the number of delayed shipments from China to the United States has declined lately, stabilizing around 35 %. But it is also higher wages that could reduce China's global competitiveness as a manufacturing base.
“Covid lockdowns in China are set to further disrupt global supply chains,” headlines the NYT. A wave of infections from Omicron variants has prompted Chinese authorities to block residents, close factories and stop truck traffic, damaging already worn supply chains.
The Covid pandemic has rightly received most of the blame for global supply chain upheavals in the past two years. But the less publicized impact of climate change on supply chains poses a far more serious threat and is already being felt, scholars and experts say. [Climate Change Is Disrupting the Global Supply Chain Too – Wired]
Shipping giant Maersk will temporarily halt all container shipping to and from Russia, deepening the country’s isolation as its invasion of Ukraine sparks an exodus of Western companies. Here's how corporate ties to Russia have been uprooted.
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