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| WSJ screen capture |
The Wall Street Journal (WSJ) reported on the 25th that a supply shortage, such as a shortage of semiconductors, occurred as the US economy showed signs of recovery.
The economy is showing signs of recovery, such as a rebound in US consumption, but there is a shortage of supply. Because of the corona 19, the factory operation is not perfect, and there is a shortage of supply.
Representatively, most automakers in the US are temporarily suspending their operations due to a shortage of automotive semiconductor supplies.
According to data company IHS Markit, the supply shortage was the worst since the survey was conducted in 2007. U.S. executives say they have faced the worst supply shortage in history.
This shortage of supply is likely to hinder economic growth. The U.S. economy has shown signs of a V-shaped recovery due to the long-term ultra-low interest rate and the recently passed $1.9 trillion additional stimulus plan.
Fed Chair Jerome Powell is appeasing the market by saying “the bottleneck is appearing on the supply side, but it will be temporary.”
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| Jerome Powell, Fed Chairman of the United States. © AFP=News1 © News1 Material Photo |
However, experts say that the supply shortage will not improve overnight. This is because semiconductor supply cannot be smoothed overnight.
In the midst of the supply crunch, there is a prospect that the Suez Canal incident will erupt and the supply crunch will intensify.
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| The 400-meter-long super-large container ship’MV Ever Given’ in Panama is stranded diagonally on the Suez Canal in Ismailia, Egypt, completely blocking traffic. © AFP=News1 © News1 Reporter Dongmyeong Woo |
On the 23rd, a supersized container ship of Evergreen, a Taiwanese shipping company, was stranded on the Suez Canal in Egypt. As a result, the Suez Canal, which connects the Mediterranean Sea and the Red Sea, is now controlled in both directions, and of course, commercial ships have stopped.
The disruption will last at least a week, Bloomberg predicted. According to Bloomberg, the best time to lift a super-sized container ship that completely blocks the Suez Canal in both directions is Sunday or Monday (28-29 days). It is said that only between 28 and 29 days the tide is highest, so that a stranded ship can be lifted.
The Taiwanese ship Evergreen has left the waterway due to strong winds and sand storms, completely blocking both sides of the canal from the morning of this Tuesday, the 23rd. Therefore, even if the salvage is successful early next week, logistics through the Suez Canal will be stopped for at least one week.
The Suez Canal is the world’s most heavily trafficked destination. This means that while the US is experiencing a shortage of supply, the supply is bound to be even more severe.
WSJ feared that the Suez Canal crisis could lead to a prolonged US supply crunch, which could delay the economic rebound.