Economics
Surging Shipping Rates Pose New Headwind for the Global Economy
- Supply chains are getting hit again by curbs to control virus
- Chinese new year holidays, strong demand adding to the crunch
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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.