News Snapshot:
Covid lockdowns, quarantines and restrictions are causing a backlog in some of China’s major ports, resulting in “chaos” and pushing up air freights by as much as 50% in some cases, analysts tell CNBC. It comes as China pushes ahead with its zero-Covid strategy — which means a recent spike in infections has resulted in lockdowns and curbs in the largest port hubs and major cities across the country. China’s key priority right now is to limit the spread of Covid cases ahead of next month’s Winter Olympics and the upcoming Lunar New Year, he added. However, the ensuing curbs...
