All articles tagged with #businessglobal trade
China's booming aluminium industry in Xinjiang has raised concerns about forced labor, exposing global carmakers to potential ethical and legal issues. The region's reliance on forced labor has prompted scrutiny from international organizations and governments, leading to calls for increased transparency and responsible sourcing practices within the supply chain.
Top CEOs are warning that the current volatility in global supply chains, particularly in the Red Sea due to Houthi rebel attacks, is likely to become the new normal. The disruptions, along with other factors such as climate change and geopolitical complexities, are leading to higher freight rates and a reevaluation of supply chain efficiency. This could result in higher prices for consumers and pose challenges for central bankers dealing with inflation.
Tesla suspends production at its Berlin plant due to disruptions in the Red Sea, caused by attacks on shipping by Houthi rebels, leading to longer delivery times and supply chain gaps. The attacks have prompted shipping companies to divert vessels around the Cape of Good Hope, causing significant disruption to global trade and potential inflation of consumer goods prices. The UK government is concerned about the impact on the economy, while major shipping lines are prioritizing crew safety and avoiding the dangerous route. The situation has also led to a rise in oil prices and could have broader implications for global trade and consumer costs.