In Suez Canal, Stuck Ship Is a Warning About Excessive Globalization - The New York Times - 0 views
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international commerce confronted a monumental traffic jam with potentially grave consequences.
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a vital channel linking the factories of Asia to the affluent customers of Europe, as well as a major conduit for oil.
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companies can depend on the magic of the internet and the global shipping industry to summon what they need as they need it.
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Capacity has increased 1,500 percent over the last half-century, and has nearly doubled over the last decade alone,
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No one could predict a ship going aground in the middle of the canal, just like no one predicted where the pandemic would come from. Just like we can’t predict the next cyberattack, or the next financial crisis, but we know it’s going to happen.”
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Money not spent filling warehouses with unneeded auto parts is, at least in part, money that can be given to shareholders in the form of dividends.
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the unloading of those containers has been slowed as dockworkers and truck drivers have been struck by Covid-19 or forced to stay home to attend to children who are out of school.
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Retailers in North America have been frantically restocking depleted inventories, putting a strain on shipping companies in what is normally the slack season on trans-Pacific routes.
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Those now en route to the Suez may opt to head south and navigate around Africa, adding weeks to their journeys and burning additional fuel — a cost ultimately borne by consumers.