Post #12304 by commonone on the US Policy board

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bighairymike: What's not to like?

Pay attention. China is losing money. A lot of money. And it has nothing to do with the Houthis not targeting Chinese ships or Egyptian ports. And the longer this drags on, the more ships that avoid Egyptian ports and the Red Sea routes, the more money China loses.

For Chinese businessman Han Changming, disruptions to Red Sea freight are threatening the survival of his trading company in the eastern province of Fujian.

Han, who exports Chinese-made cars to Africa and imports off-road vehicles from Europe, told Reuters the cost of shipping a container to Europe had surged to roughly $7,000 from $3,000 in December, when Yemen's Iran-aligned Houthi movement escalated attacks on shipping.

"The disruptions have wiped out our already thin profits," said Han, adding that higher shipping-insurance premiums are also taking a toll on Fuzhou Han Changming International Trade Co Ltd, the company he founded in 2016.

The rupture of one of the world's busiest shipping routes has exposed the vulnerability of China's export-reliant economy to supply snarls and external demand shocks.

https://www.reuters.com/world/red-sea-crisis-press...

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