2024 OCTOBER ISSUE
GLOBALIZATION
NEEDS REINVIGORATION
PART 14
Written by Andrew Sia
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From the Desk of the Publisher
When we first started the writing of the globalization, it was in our July 2021 issue. We were showing concerns of the supply chain during the time when the Covid pandemic was at its prime. We noticed at that time the impact would be very big. We reported the challenge of the shipping industry and we already sensed the sensibility of the primary sea route as during the time this ultra-large container ship, Ever Green, was grounded in Suez Canal, and blocked this vital 120-mile canal for a week.
The congestion also led to container ships being strained the seaports of the West Coast and East Coast. Now the dilemma of Suez Canal is yet from over as Yemen’s Houthi rebels are attacking ships crossing the Red Sea.
And then we have last year’s drought put Panama Canal under another situation that the water levels were not high enough to allow the usual numbers of ships to cross. These are not helping the globalization.
In the meantime we have seen geopolitical situation is affecting the global trade as the two great powers, the U.S. and China, are leveraging over semiconductors, electric vehicles, critical minerals, and commodities.
We can see that protectionism is coming.
