CNBC:
Many goods are stuck in China right now as a result of the Covid lockdowns and it could become a “big problem” for the global economy, according to business consultant Richard Martin.
“Many of the things that we use around the world that’re manufactured, have components from China and we’re about to see a logistics snarl that’ll dwarf anything in 2020 or 2021,” Martin, managing director at IMA Asia, told CNBC’s “Street Signs Asia” on Tuesday.
“China is 20% of global demand but its role in supply chains is much bigger than that.”
See also: A ‘Zero Tolerance’ Covid-19 Policy In China Leads To A Dystopian Nightmare For 26 Million Residents