Nations waking up to the importance of localization

Five years ago, a major maritime route was blocked and trade was obstructed. The news cycle is too swift for most of us to remember it. Yet, from March 23 to March 29, 2021, the Ever Given cargo ship obstructed the Suez Canal. While this only lasted a little over six days, it created a blockage in global supply chains that had tremendous economic consequences. Lloyd’s List estimated at the time that the value of goods delayed each hour was $400 million, meaning that the obstruction disrupted $9.6 billion of goods daily.

Raccontata daarabnews.com