Maine to texas. It could cost the economy billions of dollars a day while the team may not feel the pinch right away if it extends always a good style supply chains and we to shortages and higher prices out of the presidential election. Food prices are likely to react first according to economists. Ryan pedersen is the balde chief executive of flex port. He is a sense of the impact of the strike on consumers. This will be a the strike on consumers. This will be a massive the strike on consumers. Ti 3 will be a massive disruption, thus far you haven t seen it will not act the consumer unless it lasts more than another week or two but then you will see big shortages and really high prices of all kinds of goods that will result from this. . , , ~ of goods that will result from this. . , a i. Of goods that will result from this. . , i. . , of goods that will result from this. . ,. , , of goods that will result from this. . ,,. , this. I ll ask you a bit about c stal this. I ll ask
You will not see this affect the consumer analysis unless this lasts another week or two and then see big shortages and really higher prices of all kinds of goods that will result from this. To ask you about crystal ball thinking, it can be a bit tough butjust elaborate if you could, mentioned how many days if this rumbles on that the consumer will start to feel it. The big question here is again, does it get resolved in the next week or two? if it does, you won t really see much, it will be a blip on the radar, but if this were to continue, you start to see massive bottlenecks as containers build up, both on the ships waiting off the coast, but also in places like china where they are unable to load these containers that are meant for the east and they start sitting there, and the real problem becomes a couple of months from now as these ships that are sitting here on the coast, off the coast of the us don t return home, don t go back to china to pick up more containers, you have a hu
Will be a of strike of consumers. This will be a massive of strike of consumers. Ti 3 china to pick up more containers you have a huge shortage of shipping capacity, i6% of shortage of shipping capacity, i6% of the world s capacity of ocean container ships goes through these ports on an annual basis, so these last few weeks you will start to see major backups and shortages, it would be really bad for the economy. Would be really bad for the economy would be really bad for the econom. , ~ ~~~ economy. Openai has a $6. 6 billion as economy. Openai has a $6. 6 billion as they economy. Openai has a $6. 6 billion as they continue economy. Openai has a $6. 6 billion as they continue to. Economy. Openai has a $6. 6| billion as they continue to bet on artificial intelligence. This brings a value of chat bt of the chat bt maker to the amount similarto of the chat bt maker to the amount similar to goldman sachs. It s one of them would microsoft. Openai s latsko banker and they ar
Business news live from singapore. 2016 was the year of surprises, so whats in store for the Global Economy in 2017 . We get some predictions. And got milk . We visit an indian dairy of looking to pump out healthier products. Good morning, asia. Hello, world. Happy holidays, everyone. Glad you could join us for this friday edition of Asia Business report, im rico hizon. If theres anything we can learn from 2016 it might be to expect the unexpected. The uk voted to leave the eu and the election of donald trump as us president certainly defied expectations of many forecasters, but both events could have a large effect on the coming year. So what storms could be on the radarfor coming year. So what storms could be on the radar for 2017 . Coming year. So what storms could be on the radarfor 2017 . Earlier i asked Simon Littlewood from the asia now consultancy group. There might no one agrees but there are three scenarios for global growth, one is a slow recovery, two is a fast recovery and
The new us president get to work. But that gets to work. We find out what it might mean for asia and we go tojapan what it might mean for asia and we go to japan where the suicide of an overworked employee has triggered an nationwide debate. Hello and welcome to Asia Business report. I am sharanjit leyl. While the hard work begins for the incoming president , donald trump, who has taken the office with the promise to put America First. He urged businesses to buy american and higher american. Said Overseas Industry has been enriched at the expense of american industry. What are we likely to see from him in his first week at an office was to mark i spoke with david willis in washington and asked him if America First mean, the Rest Of The World second. Trump making that point in his inaugural address, it is about putting an America First, it is about Reclaiming Jobs which President Trump believes have been lost to these Trade Agreement Which, in many cases, arejust lost to these Trade Agr