A supply chain crunch that was meant to be temporary now looks like lasting well into next year as the surging delta variant upends factory production in Asia and disrupts shipping, posing more shocks to the world economy.
The cost of sending a container from Asia to Europe is about 10 times higher than in May 2020, while the cost from Shanghai to Los Angeles has grown more than sixfold.
A supply chain crunch that was meant to be temporary now looks like it will last well into next year as the surging delta variant upends factory production in Asia and disrupts shipping, posing more shocks to the world economy.
Manufacturers reeling from shortages of key components and higher raw material and energy costs are also being forced into bidding wars to get space on cargo vessels.
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