Welcome to the brand new weekly State of the Nation blog by Lifeline. Subscribe to receive bite-sized news updates on manufacturing news around the world, the costs of raw materials and how that's affecting the economy and business as well as supply chain news from across the globe.
Tianjin Goes Into Lockdown Once More - The Loadstar
Further lockdowns in Tianjin are expected to cause further shipping delays in the coming months, as China sticks to it's zero-covid policy. This has led to factories and ports pushing up freight rates, which might result in consumers paying more for materials and products, pushing inflation to rise to a level far higher than at present. Additionally, cross-border trucking has been suspended between Hong Kong and Mainland China therefore increasing the strain on supply chains out of Hong Kong, one of the most important shipping ports in the world.
Sri Lanka Defaults On Its Debts For The First Time - The Telegraph
Sri Lanka defaulted on its debts for the first time – the country owes £27 billion, but has less than £1 million remaining in the bank. Being one of the world's highest exporters of fabrics, this could create issues in supply chains across the fashion industry initially, but then affecting all other industries relying on the purchase of those fabrics from Sri Lanka. With fuel prices increasing exponentially in the south Asian region, the costs of raw materials are only going to get much worse in the coming months.
Sri Lanka Not The Only Country In Trouble - IMF
The IMF is in talks with Egypt, Tunisia and Pakistan about dispensing urgent loans, this could effect prices on Refined Petroleum, Gold, Crude Petroleum, Nitrogenous Fertilizers, Citrus, Insulated Wire, Vehicle Parts, textiles and Copper imports. Any companies involved within the motorsport sector will be sure to see issues mount in the coming months, with raw materials becoming ever more expensive as well as more difficult to obtain.
