Risks of disruption to ports and shipping are outweighed by a boost to global demand, says the Financial Times' Alan Beattie.
: With imports of US$2.7 trillion in 2021 against the US’s US$2.8 trillion, it’s the world’s second biggest goods importer.
As it happens, China’s limited reopenings actually managed to worsen stress on supply chains last year because of increased infection rates among workers, but not by much. More infections, quite apart from the human cost, could push supply chain pressure higher. But as the New York Fed economists point out, previousto global trade from COVID-19 were more damaging because they were happening everywhere at once.
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