Global supply chains: is the UK vulnerable?
When the 400 metre long Ultra Large Container Vessel, Ever Given, got wedged diagonally across the Suez Canal at the end of March, it brought one of the world’s most important trade routes to a standstill for six days. Around ten per cent of global shipping passes through the canal. Shipping itself is responsible for some 90 per cent of global trade. The blockage served to revive worries that global supply chains have become a source of vulnerability for economies that rely on international trade. The immediate effect of the Ever Given accident for the UK may not become clear for several…
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