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ICYMI: Rubio Warns of New Supply Chain Crisis
China’s COVID lockdowns will create a new supply chain crisis
U.S. Senator Marco Rubio (R-FL)
April 27, 2022
…Stopping COVID in its tracks was never feasible…. Unfortunately, the CCP didn’t get the memo. Beijing recently put the entire city of Shanghai under lockdown in an attempt to isolate the virus….
Shanghai is the largest container port in the world and processes a massive 20 percent of Chinese exports. The CCP’s measures have put almost every one of the city’s warehouses, plants, and trucks out of commission, and the port and airport are only functioning in a limited capacity. Cargo is piling up, and it will continue to do so for as long as the lockdown remains in effect.
When Shanghai’s lockdown lifts…, the global supply chain will be overwhelmed by a tidal wave of freight. Industry insiders are saying that the situation is “worse than Wuhan” and may create “the most significant logistics disruption since the start of the pandemic.” Americans will doubtlessly feel the impact, which is bad news for working families already struggling with inflation, rising fuel prices, and food shortages.
Well before COVID reached our shores, I made the point that our dependence on Chinese imports is a national liability…. Today, the accuracy of my warning is painfully obvious. What’s happening in Shanghai only makes it more so….
The way forward lies through bringing critical manufacturing and production back to the U.S. and neighboring countries. That means increasing American investments to partners in Central and South America…. It also means implementing robust, targeted industrial policy, which will empower America to compete on the global stage in the creation of semiconductors, pharmaceuticals, rare-earth products, and more.
With two years of crises behind us, and another one just over the horizon, the time has come to wake up and chart a new path toward American resilience. If we let this moment pass, we willingly place ourselves at the mercy of Beijing….
Read the rest here.