2024-01-23 20:48:43
By Clara Galtier
Published 4 hours ago, Updated 4 hours ago
Some 90% of container ships now avoid the Red Sea and the Suez Canal. 677712509/Wirestock – stock.adobe.com
Italy is the most affected country. Its employers are particularly concerned about a stagnation in the conflict in the Red Sea, which would cause a surge in inflation and further weaken the country’s economy.
Gathered in Davos in Switzerland last week, the leaders of the world economy – big bosses, bankers, heads of state, etc. – expressed concern about the geopolitical tensions which once again threaten international trade. Starting with the Secretary General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, who said “less optimistic” for this year. After a sluggish 2023 with global trade up just 0.8%, the WTO expected a rebound of 3.3% in 2024. But “we expect a weaker performance”warns the general director.
Some 90% of container ships now avoid the Red Sea and the Suez Canal. The main shipping companies favor the alternative of the Cape of Good Hope off the coast of South Africa, a route which extends the journey by ten to twenty days. The additional cost of this detour “amounts to an additional tax of 23%”, they say at the WTO. Around 12% of global trade passes by sea…
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#Europe #affected #maritime #disturbances