Questioning The Merits Of Globalization

China Exporting Lockdowns

An important country Fink does not mention is China, but it’s key to understanding the consequences of unchecked globalization. China has long been the world’s factory. Of the 10 busiest seaports in the world, six are in the Asian country. An estimated one-third of global shipping passes through the South China Sea.

Expect Higher Shipping Costs

Even though the Port of Shanghai, the world’s busiest port, has reportedly remained open, a shipping logjam is worsening as trucks are not available to move product. According to data from VesselsValue, port congestion is at an all-time high, with the number of ships waiting to load and unload going parabolic.

Gold And Silver Look Attractive

With shipping rates on the rise, I would be taking a long look at container shipping stocks, including Maersk. The group generated record profits last year as rates tripled on a pandemic-related demand explosion. Global disruptions, from the ongoing pandemic to war in East Europe, means that rates may remain elevated for some time longer.

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