Despite supply chain pressures in Asia, it’s unlikely that American footwear brands will follow the example of New Balance and pursue U.S. manufacturing, says Matt Priest, CEO and president of Footwear Distributors and Retailers of America (FDRA).
Cases are at a record in Shanghai, now the epicenter of China’s worst outbreak since the start of the pandemic, and the lockdown has been extended indefinitely.
Slammed by the long-running chip shortage and surging materials prices, global automakers are now facing a new threat — lockdowns in some of China’s biggest cities.
Global supply strains that started to ease in early 2022 are worsening again as headwinds strengthen from the war in Ukraine and China’s Covid lockdowns, threatening slower growth and faster inflation across the global economy.
A closely watched auto-industry forecaster lopped more than 5 million cars off its projections for global production this year and next, largely due to fallout expected from Russia’s invasion of Ukraine.
Sanctions are causing a shortage of microchips in Russia. Meanwhile, the U.S. and Europe are spending billions in a race to reduce reliance on imports just as China plans to turn itself into a chip powerhouse.
Putin’s assault on Ukraine, and retaliatory steps designed to paralyze the Russian economy, are heaping new disruptions on supply chains that never recovered from unprecedented shocks caused by the pandemic.
The latest supply chain news, analysis, trends and best practices for companies operating in China. Learn how businesses are optimizing supply chain and logistics performance across China’s 22 provinces, five autonomous regions and four direct-controlled municipalities (Beijing, Tianjin, Shanghai and Chongqing) - addressing a range of challenges such as rising labor costs, poor infrastructure, complex customs and trade laws, unstable political climates and government controlled exchange rates.
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