By raising prices for foreign buyers, Chinese factories can preserve their profit margins — at the risk of contributing to inflation elsewhere. Port and shipping delays are driving the price tags for Chinese goods even higher in foreign markets. One of the world’s largest ports, Yantian Port in the southeastern Chinese city of Shenzhen, partially shut down for more than a month from late May through much of June. Dong Haitao, a senior administrator at the adjacent free trade zone, blamed foreign ports for failing to handle arriving containers on time. Shipping rates for containers have continued to rise steeply in the weeks since Yantian Port reopened.

Source: bd News24 July 13, 2021 16:52 UTC