The cost of shipping goods from China has hit record highs, driven by a critical shortage of containers amid the pandemic. Compared with low prices in March 2020, freight rates from China to the US and Europe have surged by as much as 300%.
China is exporting much more than it is importing.
Thousands of empty containers were stranded in Europe and the US in 1H2020. The shortage is made worse by limited air freight capacity.
Mr Gopal R from Frost & Sullivan, shared his thoughts on how this will impact consumers and economies.
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