As much as 5 Billion each day according tojpmorgan analysts. Us retailers, automakers and other businesses now face Ballooning Freight rates ahead of the crucial festive shopping season. Large retailers have pulled forward imports of much of their Holiday Merchandise and made reservations with west Coast Ocean and Rail Carriers in hopes of avoiding any disruption. Lets speak to peter sand, chief analyst at xeneta, an Ocean Freight analytics firm. Hello to you. I know you have already calculated what this could mean if the Strike Action goes ahead, so do tell us more. A disruption like this always comes at a bad time for European Exporters into North America as well as North American exporters out of thE East Coast And Gulf coast. It will be impacted at first but this seems to be a first for almost 50 years, has the potential not only to lift Freight Rates higher due to the disruption from the strike, but certainly also to have wider implications, one or two months later down the road w
Also on the programme thInkIng outside the box. Why people with dyslexia could be best placed to unlock the potential of ai. And, back down to Earth. Astronauts from All Over The World gather In The Netherlands for their annual convention. But what will they be talkIng about . Well hear from one of them welcome to to busIness today, im ben thompson. We begIn In the us, where Port Workers across the East Coast are set to walk out on Strike Tomorrow and to global supply chaIns. The action announced on sunday by the Port Workers union could shut down 36 ports which handle half the goods imported Into the us via contaIner. AccordIng to analysts atjp morgan, the cost to the us economy could be 5 Billion a day. ShippIng rates are already soarIng ahead of the crucial festive shoppIng season. Mr president would you Intervene In a dock Workers Strike . Intervene In a dock Workers Strike . , Intervene In a dock Workers Strike . Why Intervene In a dock Workers Strike . No. Why not . Intervene In
Largest cities. Finally, we have not seen it yet but it is very likely that china is likely to have another round of fiscal stimulus. I will say that this is something that we have not seen in a few years, not since early 20102 after the global financial crisis. I think it is a clear message that the government is willing to increase support for economic growth and people s confidence. Talking of efforts to try and reboot growth. Thailand will start handing out $300 to every citizen part of a $14 billion stimulus package. The scheme has been criticised by economists, including two former central bank governors who say it is fiscally irresponsible. The government rejects that, but has struggled to find sources of funding. The japanese market has fallen by more than 4%, a reaction to the leadership contest for the country s next prime minister. He is a known critic of the extraordinary stimulus and has signalled he would support more interest rate hikes. A stronger currency ways on r