Economy

Asia Covid surges could hit supply chains, raise U.S. inflation: Expert

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Fresh waves of Covid-19 cases in major manufacturing hubs in Asia could hit global supply chains — and that could cause inflation to rise quicker in the U.S., a business consultant said Wednesday.

Japan, South Korea, Taiwan and Vietnam are among Asian manufacturing economies that have reported a renewed Covid outbreak in the last few weeks. Products or components made in those economies are shipped globally to places as far as the U.S.

The increase in infections has come as demand for goods from the U.S. and China — the world’s top two economies — has contributed to “a really fast rise” in factory-gate prices in East Asia, said Richard Martin, managing director of IMA Asia.

Martin…



Source cnbc.com

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