Our economy was thriving when shipping containers left ports like this packed with goods that were stamped with three proud words: Made in America.
While the Fed keeps the yield on overnight loans at 0% and investors price ten-year Treasury bonds as if prices will barely budge over the coming decade, inflation is lurking in many corners of the economy--like shipping, which accounts for 7% of gross domestic product.
Energy is only one area where the rapid growth of China's economy is having an effect on shipping and cargo rates.
The undiversified economy (mainly tourism, oil, shipping) is fragile.
Despite huge strides towards open markets over the past 50 years, big swathes of the world economy, such as agriculture, textiles and shipping, remain highly protected.
If the Fed gets its act together, Japan's economy should rev up again as oil prices and shipping rates fall.
The choke point ripples across the economy, forcing some companies to abandon just-in-time shipping and stockpile goods in case of delays.
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And Iran's strategic position near crucial oil shipping routes means the escalation of tensions could put further pressure on the fragile global economy.
New York's shipping ports and airports might also be subject to closures or delay, crimping the national economy.
Many in the shipping industry see a sluggish year ahead for Chinese exports, a cornerstone for the nation's economy, despite other indications of growing demand for China's products.
It may be just a blip, but in recent weeks, even as the shipping lines have announced further price rises, average rates have fallen, amid signs of a weakening global economy.
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