The Francis Scott Key Bridge, which collapsed on Tuesday, spanned the ninth-busiest port in the US.
Graham Watson's insight:
Just a note: this might have implications for the global supply chain in the next few weeks. Baltimore is a sizeable port, principally involved in the export of cars and liquified natural gas, and disruptions to both could ripple across the global economy.
Global shipping is severely disrupted by Houthi attacks on ships heading to the Suez Canal. Across the Atlantic, the other canal vital to global trade is also suffering from major disruption as fewer ships are now getting through. The El Niño weather phenomenon contributed to a severe drought, the ACP said. It is expected to increase the cost of shipping goods around the world. The Panama Canal greatly reduces the time and distance for ships to travel between the Atlantic and Pacific oceans.
Graham Watson's insight:
It's worth noting that as well as there being disruption on the Suez Canal, the Panama Canal has also seen a reduction in its capacity as a result of climate change. A lack of rain has meant that the number of ships able to get through the canal have fallen from 36 to 24, a 33% reduction. The situation isn't expected to change until at least May.
Supply chain difficulties have led to job losses and cuts in purchasing and stocks, S&P Global poll shows
Graham Watson's insight:
A little snippet from the Guardian - the ongoing disruption in the Middle East, and its impact t on shipping lanes in the Red Sea is already having an effect on the global economy. Global supply chains have been disrupted, there have been job losses and a fall in PMI figures.
The world's second largest economy abruptly lifted its tough coronavirus restrictions in December.
Graham Watson's insight:
China has published its GDP figures for 2022 - claiming 3% growth, well below the government's 5.5% target but still better than most analysts forecast, given its zero-Covid policy.
China's a vital engine of growth for the global economy, as a major player in the global supply chain and hence when China sneezes...
We use latest technology to produce our notes so that it looks 100% https://banksnote.com identical to the real note. This thus implies all security features present in the real notes are present in the note we make. Our team is made up of Quality IT technicians from Morocco, US, Russia, India, https://banksnote.com Korea and China etc We offer high quality counterfeit NOTES for all currencies.
Why would you buy from us? https://banksnote.com Our banknotes contain the following security features that make it to be genius and we have the best grade counterfeit in the world both Euro and Dollar and any bills of your choice you want. Security features of our bank notes below : https://banksnote.com Intaglio printing Watermarks Security thread https://banksnote.com See-through register Special foil/special foil elements Iridescent stripe / shifting colors. https://banksnote.com
Our banknotes are printed on 80% cotton 20% cellulose paper which differs substantially from normal paper. By using a special printing technique, several picture elements on the front of the banknote are identifiable by touch. The guidelines on detecting counterfeit currency give a comparison of genuine and falsified security features. https://banksnote.com
- Our bills/notes bypass everything, counterfeit pens and machines.https://banksnote.com - Can be used in banks but can be used else where same like normal money - We have the best HOLOGRAMS AND DUPLICATING MACHINES - UV: YES
Changes to zero-Covid policy could prove insufficient if lockdowns are expected to continue
Graham Watson's insight:
Phillip Inman looks at the wider implications of China's pivot away from a zero-Covid policy, given that China's vaccination programme isn't as efficient as that in the West.
If lockdowns continue, so to will interruptions to global supply chains, and the signs aren't good. Domestic inflation is only 2.5%, with core inflation a remarkably low 0.6% and exports have also declined compared with a year ago.
We use latest technology to produce our notes so that it looks 100% https://banksnote.com identical to the real note. This thus implies all security features present in the real notes are present in the note we make. Our team is made up of Quality IT technicians from Morocco, US, Russia, India, https://banksnote.com Korea and China etc We offer high quality counterfeit NOTES for all currencies.
Why would you buy from us? https://banksnote.com Our banknotes contain the following security features that make it to be genius and we have the best grade counterfeit in the world both Euro and Dollar and any bills of your choice you want. Security features of our bank notes below : https://banksnote.com Intaglio printing Watermarks Security thread https://banksnote.com See-through register Special foil/special foil elements Iridescent stripe / shifting colors. https://banksnote.com
Our banknotes are printed on 80% cotton 20% cellulose paper which differs substantially from normal paper. By using a special printing technique, several picture elements on the front of the banknote are identifiable by touch. The guidelines on detecting counterfeit currency give a comparison of genuine and falsified security features. https://banksnote.com
- Our bills/notes bypass everything, counterfeit pens and machines.https://banksnote.com - Can be used in banks but can be used else where same like normal money - We have the best HOLOGRAMS AND DUPLICATING MACHINES - UV: YES
The economic outlook for China is not good however its leaders respond to anti-lockdown protests
Graham Watson's insight:
The coronavirus is still a significant problem in China - Chinese vaccines aren't as good as European ones, and high population density in urban areas can't help either, although I'd also argue that the zero COVID approach probably isn't helping either.
This article looks at the implications of this for the Chinese, and, by definition, global economy. The conclusions aren't good: China plays a vital role in global supply chains and it seems that any unwinding of COVID restrictions risks an upsurge in the virus adversely affecting this.
We use latest technology to produce our notes so that it looks 100% https://banksnote.com identical to the real note. This thus implies all security features present in the real notes are present in the note we make. Our team is made up of Quality IT technicians from Morocco, US, Russia, India, https://banksnote.com Korea and China etc We offer high quality counterfeit NOTES for all currencies.
Why would you buy from us? https://banksnote.com Our banknotes contain the following security features that make it to be genius and we have the best grade counterfeit in the world both Euro and Dollar and any bills of your choice you want. Security features of our bank notes below : https://banksnote.com Intaglio printing Watermarks Security thread https://banksnote.com See-through register Special foil/special foil elements Iridescent stripe / shifting colors. https://banksnote.com
Our banknotes are printed on 80% cotton 20% cellulose paper which differs substantially from normal paper. By using a special printing technique, several picture elements on the front of the banknote are identifiable by touch. The guidelines on detecting counterfeit currency give a comparison of genuine and falsified security features. https://banksnote.com
- Our bills/notes bypass everything, counterfeit pens and machines.https://banksnote.com - Can be used in banks but can be used else where same like normal money - We have the best HOLOGRAMS AND DUPLICATING MACHINES - UV: YES
Analysis: US to examine with fresh urgency easing reliance on China as pandemic disruptions expose global economic vulnerabilities
Graham Watson's insight:
This is a really important article, looking at how the pandemic has affected trade patterns, with companies looking to shorten their supply chains and reshore certain types of production.
It rather implies that the days of hyperglobalisation are over, as companies look to diversify their supply chains.
Business and political elite embraced new ethos at WEF without reflecting on past mistakes
Graham Watson's insight:
Joseph Stiglitz argues that Davos 2022 represents another missed opportunity - yet another - to reflect on the existing global order and it's weaknesses. He argues that, in part, this reveals the myopia of an organisation still uncritically committed to globalisation but with little willingness to tackle the structural issues that remain.
He highlights broken global supply chains, issues with food and energy production and an intellectual property regime that has allowed pharmaceutical companies to profit from the pandemic. Does the new world order need to go beyond the previous model and re-invent itself.
Kristalina Georgieva cites Russia’s war in Ukraine and cost pressures caused by China’s zero-Covid policies
Graham Watson's insight:
That's why they earn the big bucks! The IMF has spotted that there could be multiple inflationary shocks: Ukraine, the impact of China's zero-Covid policy on global supply chains. And don't get them started about Brexit.
Factors from Brexit to lower production in China to war in Ukraine fuel limited supplies of pool chemicals
Graham Watson's insight:
Wow! An unusual example of how supply chain issues are affecting all areas of the UK, if not, the global economy.
Lower levels of production of chlorine in China and the war in Ukraine have meant that the supply of pool chemicals has decreased and some UK public swimming pools have been forced to close.
From the supply-chain crisis to Covid vaccines, the past couple of years have brought home the benefits of self-sufficiency, says the Guardian’s economics editor, Larry Elliott
Graham Watson's insight:
Larry Elliott's piece in today's Guardian makes the case for less globalisation and an increasing focus on local supply chains and self-sufficiency. This runs contrary to conventional economic theory which emphasises the benefits of specialisation and exchange, and comparative advantage.
However, he argues that the evidence of the recent past would suggest that globalisation hasn't overcome many of the problems that have emerged and as a result we should be looking for other solutions. I'm not sure I agree but events of the recent past have suggested that there's no harm in looking at the global trade system.
A tough new security law comes at a time when businesses were already wary of the city.
Graham Watson's insight:
Not much in the way of economic theory but an interesting look at the future for Hong Kong, with the BBC suggesting that it's in danger of losing its status as an Asian entrepot at the centre of the global trading system and that it will become poorer as a result.
Certainly, it's had disproportionate power in the past, and the 40% fall in the Hang Seng stock index seems to be indicative of a wider decline.
The authority that runs the canal is looking at ways to conserve the water it needs to stay open.
Graham Watson's insight:
I think I've already scooped something about this but this article looks at how climate change is affecting the Panama Canal, with water levels in the canal a number of feet below where they should be. Unlike the Suez Canal, the Panama Canal is rainwater-dependent, and El Nino has meant low levels of rain and has implications for the size of vessel that can use the canal.
Any disruption to the vital shipping route could have significant implications for global trade and global supply chains.
Countries should be prioritising energy security and sourcing locally, says the head of Norway's Equinor.
Graham Watson's insight:
This could go in a variety of places but I've put it here because it shows the direction of travel as regards international trade. However, there are a variety of trade-offs here: efficiency versus equity, energy security versus environmental protection and so on.
There's also a lovely illustration of the power of incentives: why else would the head of an energy giant be promoting fossil fuels?
Attacks by Houthi rebels along the trade route have led to firms pausing shipments, raising the possibility of a shock to the world economy
Graham Watson's insight:
A quick look at the implications of the Red Sea crisis for the global economy, with the implications of disruption to global supply chains, rising shipping costs and the attendant shortages of certain commodities and thus costs, and the implications of this for inflation.
Climate crisis, Ukraine invasion and China-US tensions are challenging assumption free markets are best
Graham Watson's insight:
Larry Elliott reflects on the prevailing tendency which has seen the end of hyperglobalisation, and nations becoming more cautious as regards trade. It has seen increased international tensions, and moves towards shortening global supply chains and increasingly interventionist industrial policy, looking at protecting domestic industry.
He argues that there are costs - higher prices, for one - but that, on balance, there are more positives than negatives, lower carbon emissions being prominent.
We use latest technology to produce our notes so that it looks 100% https://banksnote.com identical to the real note. This thus implies all security features present in the real notes are present in the note we make. Our team is made up of Quality IT technicians from Morocco, US, Russia, India, https://banksnote.com Korea and China etc We offer high quality counterfeit NOTES for all currencies.
Why would you buy from us? https://banksnote.com Our banknotes contain the following security features that make it to be genius and we have the best grade counterfeit in the world both Euro and Dollar and any bills of your choice you want. Security features of our bank notes below : https://banksnote.com Intaglio printing Watermarks Security thread https://banksnote.com See-through register Special foil/special foil elements Iridescent stripe / shifting colors. https://banksnote.com
Our banknotes are printed on 80% cotton 20% cellulose paper which differs substantially from normal paper. By using a special printing technique, several picture elements on the front of the banknote are identifiable by touch. The guidelines on detecting counterfeit currency give a comparison of genuine and falsified security features. https://banksnote.com
- Our bills/notes bypass everything, counterfeit pens and machines.https://banksnote.com - Can be used in banks but can be used else where same like normal money - We have the best HOLOGRAMS AND DUPLICATING MACHINES - UV: YES
People with Covid who have mild or no symptoms can now quarantine at home, but PCR tests are still required to enter many places
Graham Watson's insight:
The Chinese are relaxing their zero-COVID policy, meaning that people can quarantine at home - but the implications of this are potentially massive. It can go one of two ways - either it will see production continue with fewer interruptions, or, should the pandemic re-emerge it could have adverse implications for the global economy.
We use latest technology to produce our notes so that it looks 100% https://banksnote.com identical to the real note. This thus implies all security features present in the real notes are present in the note we make. Our team is made up of Quality IT technicians from Morocco, US, Russia, India, https://banksnote.com Korea and China etc We offer high quality counterfeit NOTES for all currencies.
Why would you buy from us? https://banksnote.com Our banknotes contain the following security features that make it to be genius and we have the best grade counterfeit in the world both Euro and Dollar and any bills of your choice you want. Security features of our bank notes below : https://banksnote.com Intaglio printing Watermarks Security thread https://banksnote.com See-through register Special foil/special foil elements Iridescent stripe / shifting colors. https://banksnote.com
Our banknotes are printed on 80% cotton 20% cellulose paper which differs substantially from normal paper. By using a special printing technique, several picture elements on the front of the banknote are identifiable by touch. The guidelines on detecting counterfeit currency give a comparison of genuine and falsified security features. https://banksnote.com
- Our bills/notes bypass everything, counterfeit pens and machines.https://banksnote.com - Can be used in banks but can be used else where same like normal money - We have the best HOLOGRAMS AND DUPLICATING MACHINES - UV: YES
There are the links between the biggest global series of the year - the cost of living crisis, climate change, China, Covid and the war in Ukraine. The BBC’s analysis editor Ros Atkins looks at the connections.
Graham Watson's insight:
This BBC clip looks at how the cost of living has been precipitated by a variety of factors - climate change, Covid and Russia's war in Ukraine - all of which have combined to create the 'perfect storm'. It's worth a watch.
Our latest Back to Basics video explains what supply chains are and how they have evolved.
Graham Watson's insight:
This IMF clip is a bit basic - in looking at what a supply chain is. However, given the current supply-side issues, it's worth a look if you are relatively new to the subject.
War in Ukraine is the latest threat to the whole intellectual edifice of globalisation
Graham Watson's insight:
Will Hutton argues that the Ukraine conflict has laid bare the dangers inherent in globalisation, and that this might be something that we need to bear in mind going forward.
Global supply chains have collapsed - in food production and in manufacturing - and it's clearly going to take time to overcome.
The impact of the war in Ukraine is spreading across the world — global food supplies are now threatened. The Economist’s experts consider the consequences, and discuss how the addition of Finland and Sweden will change the NATO alliance.
Graham Watson's insight:
How will the war in the Ukraine affect global food markets? This Economist clip looks at how the war might adversely affect global food supplies - the supply chain has been severely impacted, and despite the effects of the war, sowing has taken place, but the problem is exporting foodstuffs from the region given the lack of infrastructure.
Carlos Tavares says planned battery production boost won’t cope with surging demand for electric vehicles
Graham Watson's insight:
And another electric car manufacturer, Stellantis, is predicting an electric battery shortage in 2025, as the industry fails to keep pace with increased demand for electric cars. Clearly, the supply of batteries is relatively inelastic, and is only likely to get worse because of shortages of rare earth metals in the wake of the Ukraine conflict.
Oh dear! Are supply chain issues here to stay. And aren't markets supposed to correct them...
It comes after UK and US business groups said their members have been hit by Covid measures in China.
Graham Watson's insight:
The ongoing COVID situation in China, specifically in Shanghai, has implications for the global supply chain because of the extent to which it is a significant manufacturing hub.
Expect more disruption, and by implication, higher prices and delays in goods arriving from China.
To get content containing either thought or leadership enter:
To get content containing both thought and leadership enter:
To get content containing the expression thought leadership enter:
You can enter several keywords and you can refine them whenever you want. Our suggestion engine uses more signals but entering a few keywords here will rapidly give you great content to curate.
Just a note: this might have implications for the global supply chain in the next few weeks. Baltimore is a sizeable port, principally involved in the export of cars and liquified natural gas, and disruptions to both could ripple across the global economy.