On August 11th activity at one of Ningbo port’s busiest terminals came to an abrupt halt when a dockworker tested positive for the Delta variant
TRADE HAS flowed through the port of Ningbo on China’s east coast since the Tang Dynasty in the 8th century. After the first opium war ended in 1842, it was one of five points of entry forcibly opened to foreign merchants. And in the first half of this year the port handled more tonnes of cargo than anywhere else in the world. A tour group of 80 students recently spent three days admiring the free-trade zone and the port’s “hardcore” power, as Ningbo city government put it.
. It demonstrates how hard China will, yet again, nonetheless try to do just that. And it shows how widely around the world this struggle will be felt. The terminal shutdown follows a similar closure at Yantian port on China’s south coast in May . It now takes about 70 days for ocean freight to travel from its point of origin in China to its final destination in America, compared with 47 last August, according to Freightos, a digital freight marketplace.
This immobilisation will add to an economic slowdown that was already under way. Industrial production, retail sales, investment and property sales were all weaker than expected in July , partly because the government is trying to curb steelmaking to preserve the environment, and housing speculation to preserve financial stability. Ting Lu of Nomura, another bank, expects GDP to be only 0.3% higher this quarter than last. He has cut his forecast for growth this year from 8.9% to 8.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Delta Variant Threatens Small Businesses as It Slows Return-to-Office PlansSmall businesses were counting on a boom after Labor Day. Now, the Delta variant is likely to keep the customers they rely on working from home.
Read more »
Nearly One Million Jobs Added In July: Will The Delta Variant Derail The Growth?In an impressively positive jobs report, United States employers added 943,000 jobs in July. The unemployment rate dropped to 5.4%, signaling the economy is improving.
Read more »
WSJ News Exclusive | As Delta Surges, Covid-19 Breakthrough Cases Remain UncommonAs the Delta variant tears through the U.S., vaccines are still the best protection against serious illness, a WSJ analysis of infection data shows. “Basically everyone who is on a ventilator is unvaccinated.”
Read more »
California sees signs Delta surge is slowing, but a new challenge loomsThe number of people being infected and falling seriously ill with COVID-19 is no longer accelerating at dramatic rates and even beginning to flatten in some areas.
Read more »
Pediatric Hospitals in U.S. in Peril as Delta Hits ChildrenEmerging data suggest that kids who test positive for COVID during the Delta wave may be more than twice as likely to be hospitalized as they were with previous versions of the virus.
Read more »