The Chinese New Year holiday, which lasted nearly one week, along with the Beijing Winter Olympics and the Communist ruling regime’s “zero tolerance” epidemic policy might exacerbate the global supply chain crisis amidst severe disruptions in global shipping, expects said. Container tracking platform Container xChange said in a late January survey that 66 percent of 500 polled freight industry respondents hold the view that the Chinese New Year holiday from Jan. 31 to Feb. 6 would impose more pressure on the shipping supply chain, with Chinese factory and port shut down further lengthening transit times and tightening available containers. “Predicting the impact of the Chinese New Year holidays in 2022 is rather more difficult than in previous years because China’s policies on internal travel are rather opaque,” said Johannes Schlingmeier, co-founder and CEO of Container xChange. China’s Zero anti-COVID policy was imposed on Xi’an of Shaanxi Province, followed by another dozen …
Global Supply Chain Crisis Deteriorates During Lunar New Year, Beijing Winter Olympics
February 19, 2022
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Beijing Winter OlympicsChinaChina Business & EconomyChinese New YearChinese RegimeeconomyEpidemic outbreaklunar new yearsupply chainUSzero policy
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