{"id":61457,"date":"2022-01-13T13:35:04","date_gmt":"2022-01-13T18:35:04","guid":{"rendered":"https:\/\/olduvai.ca\/?p=61457"},"modified":"2022-01-13T13:35:04","modified_gmt":"2022-01-13T18:35:04","slug":"global-economy-heading-for-mother-of-all-supply-chain-shocks-as-china-locks-down-ports","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=61457","title":{"rendered":"Global Economy Heading For &#8220;Mother Of All&#8221; Supply Chain Shocks As China Locks Down Ports"},"content":{"rendered":"<header class=\"ArticleFull_header__11o5_\">\n<h3 class=\"ArticleFull_title__2cUI6\"><a href=\"https:\/\/www.zerohedge.com\/economics\/global-economy-heading-mother-all-supply-chain-shocks-china-locks-down-ports\">Global Economy Heading For &#8220;Mother Of All&#8221; Supply Chain Shocks As China Locks Down Ports<\/a><\/h3>\n<\/header>\n<div class=\"NodeContent_mainContent__38L44\">\n<div class=\"NodeContent_body__2clki NodeBody_container__1M6aJ\">\n<p>Over the past month, as Wall Street turned increasingly optimistic on US growth alongside the Fed, with consensus (shaped by the Fed&#8217;s leaks and jawboning) now virtually certain of a March rate hike, we have been repeatedly warning that after a huge policy error in 2021 when the Fed erroneously said that inflation is &#8220;transitory&#8221; (it wasn&#8217;t), the central bank is on pace to make another just as big policy mistake in 2022 by hiking as many as 4 times and also running off its massive balance sheet&#8230; right into a global growth slowdown.<\/p>\n<div class=\"twitter-tweet twitter-tweet-rendered\"><iframe id=\"twitter-widget-0\" class=\"\" title=\"Twitter Tweet\" src=\"https:\/\/platform.twitter.com\/embed\/Tweet.html?dnt=false&amp;embedId=twitter-widget-0&amp;features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=1480908462297075713&amp;lang=en&amp;origin=https%3A%2F%2Fwww.zerohedge.com%2Feconomics%2Fglobal-economy-heading-mother-all-supply-chain-shocks-china-locks-down-ports&amp;sessionId=4eae7fd79d54f2a01dbd2c667749aa81714188a0&amp;siteScreenName=zerohedge&amp;theme=light&amp;widgetsVersion=86e9194f%3A1641882287124&amp;width=550px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"1480908462297075713\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<p>And, as we have also discussed in recent weeks, one place where this growth slowdown is emerging &#8211; besides the upcoming deterioration in US consumption where spending is now being funded to record rates by credit cards before it encounters a troubling air pocket &#8211; is China and its &#8220;covid-zero&#8221; policy in general, and its covid-locked down ports in particular.<\/p>\n<p>But what until recently was a minority view confined to our modest website, has since expanded and as\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2022-01-12\/supply-chain-latest-china-s-covid-fight-risks-more-supply-turmoil\">Bloomberg writes overnight<\/a>, the effects of restrictions in China as the country maintains its Covid-zero policy &#8220;are starting to hit supply chains in the region.&#8221; As a result of the slow movement of goods through some of the country\u2019s busiest and most important ports means shippers are now diverting to Shanghai, causing the types of knock-on delays at the world\u2019s biggest container port that led to massive congestion bottlnecks last summer that eventually translated into a record number of container ships waiting off the coast of California, a glut that hasn&#8217;t been cleared to this day.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/bottleneck%20jan%2012_0.jpg?itok=7ODP_upW\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/bottleneck%20jan%2012_0.jpg?itok=7ODP_upW\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/bottleneck%20jan%2012_0.jpg?itok=7ODP_upW\" alt=\"\" width=\"500\" height=\"214\" data-entity-type=\"file\" data-entity-uuid=\"f34772a2-04cd-4ac0-b075-7a319023fc53\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Global Economy Heading For &#8220;Mother Of All&#8221; Supply Chain Shocks As China Locks Down Ports Over the past month, as Wall Street turned increasingly optimistic on US growth alongside the Fed, with consensus (shaped by the Fed&#8217;s leaks and jawboning) now virtually certain of a March rate hike, we have been repeatedly warning that after [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,29428,607,32487,32486,3237,4318],"class_list":["post-61457","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-lockdowns","tag-pandemic","tag-ports","tag-supply-chain-shock","tag-supply-chains","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61457"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61457\/revisions"}],"predecessor-version":[{"id":61458,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61457\/revisions\/61458"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}