China's Zero-Covid Policy is impacting Global Trade
By MYBRANDBOOK
China's infamous Zero-COVID policy is not only harming the Chinese citizens but is also posing a significant threat to the world as the country's “witless” rules have left hundreds of cargo ships stranded on the ports which will impact freight costs and global inflation.
Many companies are bearing the brunt of China's stern COVID policies. Maersk, the world's second-largest shipping company, has suggested that the lockdown will severely impact truck services and transport costs would perceive a rise at an unexpected level.
Due to heavy traffic restrictions at the Shanghai port, logistics companies have advised vessel operators to offload the products at other ports. Customers have to bear the additional shipment and storage charges. Thus, China is going through its worst outbreak and therefore the increase in freight charges could create economic repercussions on global trade as well.
As freight charges increase it could cause a negative economic torrent on global trade. Businesses will not tolerate this unfortunate development and they will divert the cost on customers. As the world is going back to normal, hopes for China are desolated as there is a tremendous rise of new COVID cases in the country caused by the omicron variant.
A lockdown is declared in Changchun city which is a major auto manufacturing hub for brands like Toyota and Volkswagen. Apple supplier Foxconn has also suspended its production amidst the tightened restrictions, as per the media outlet.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
SAMRIDDHI AUTOMATIONS PVT. LTD.
INFOSYS TECHNOLOGIES PVT. LTD.
QUICK HEAL TECHNOLOGIES PVT. LTD.
TATA CONSULTANCY SERVICES
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : NATARAJAN CHANDRASEKARAN
Natarajan Chandrasekaran (Chandra) is the Chairman of Tata Sons, the h...
Icons Of India : RAJENDRA SINGH PAWAR
Rajendra Singh Pawar is the Executive Chairman and Co-Founder of NIIT ...
Icons Of India : NANDAN NILEKANI
Nandan Nilekani is the Co-Founder and Chairman of Infosys Technologies...
PARTNER SPEAKERS
PSU
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - ANJALI SUD, CEO – Tubi
Anjali Sud, the former CEO of Vimeo, now leads Tubi, Fox Corporation...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
Indian Tech Talent Excelling The Tech World - PADMASREE WARRIOR, Founder, President & CEO - Fable
Padmasree Warrior, the Founder, President, and CEO of Fable, is revolu...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
