Companies are rerouting around South Africa to avoid militia attacks in Yemen in one of the biggest disruptions to world trade since the Covid-19 pandemic
And they can just hike their prices like everyone else is doing. So why invest time and resources into lowering them back down if it doesn’t affect them?
China is mostly self-sufficient, most of the world is not.
Every major country is affected by this. India and China have as much interest in free passage through the Red See as the US or the EU.
And yet China, who has a naval base in Djibouti, seems to just be sitting back and letting everyone else tackle this
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I don’t know, maybe because they are directly affected by closing a major trade route with one of their largest trading blocks.
Of course they could always sit on their hands, make rude noises and let the US carry their weight… Which is what most of the world expects nowadays.
And they can just hike their prices like everyone else is doing. So why invest time and resources into lowering them back down if it doesn’t affect them?
China is mostly self-sufficient, most of the world is not.
China imports huge quantities of food and fuel. They are far from self sufficient.
https://www.reuters.com/world/china/chinas-imports-unexpectedly-grow-oct-exports-extend-declines-2023-11-07/
Bingo. They know that someone else will do something eventually is my guess.