Rising costs and geopolitics prompt the global supply chain to strengthen robustness, industry veteran says

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The content of this article has been produced by our advertising partner.]   The global economic picture shows resilience in 2024: in the first quarter of this year, major trade figures started reversing a downturn trend characterised by a slow pace of demand for manufactured goods.

The cost inflation is attributed to many factors: material scarcity has increased, freight costs have risen, and ongoing regional wars have led to disruptions in container shipping, longer haul routes, and ocean freight bottlenecks.

The Vanguard Funds forecasts that the 2024 GDP growth of the European Union is 0.6 percent, and Germany, the largest economy in the region, has continued its contraction.

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Article Details

Author / Journalist: Advertising partner

Category: Business

Markets: Hong KongGermanyUnited States

Topics: Growth Global Trade Economies Largest Economic European Forecasts Major Percent 2024

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-11 @ 00:00:14 (3 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 261 words

Reading Time: 2 minutes read

Sentences: 13 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 24404217

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