image credit: Pxhere

Surging Shipping Rates Pose New Headwind for Global Economy

January 14, 2021


Shocks to supply chains are engulfing a wider swath of the global economy as the pandemic rages on, threatening to stifle Asia’s trade-led recovery just as soaring freight rates make it harder for businesses to weather another year like 2020.

Shortages of consumer goods such as paper towels and work-from-home gear early in the COVID-19 crisis have given way to parts shortfalls in one of the most globally integrated of industries: auto manufacturing.

Read More on Transport Topics