Your monthly update on what’s happening in key international markets.
The view from China
Ongoing travel restrictions
The Omicron variant of COVID-19 has been spreading rapidly across China with some 50 million in some form of lockdown across 27 provinces.
The China team has been unable to leave Beijing since early December. And further lockdowns have been announced in Shenzhen (the main technology hub and factory of China) and in Shanghai.
This is important because both are significant ports, which will have a direct effect on container pricing and wider shipping. We will also likely see further inflationary pressures if factories are shut for long periods, due to supply chain constraints.
Whilst many had hoped that the completion of the Paralympics in mid-March and the annual Two Sessions meeting a few days later would mark a relaxing of travel restrictions, unfortunately the opposite seems to be the case.
That said, there was some rare good in
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