boem@lemmy.world to World News@lemmy.worldEnglish · 1 year agoRed Sea crisis from Houthi attacks hits world trade as cost of shipping soars by 170%english.elpais.comexternal-linkmessage-square101fedilinkarrow-up1310arrow-down14
arrow-up1306arrow-down1external-linkRed Sea crisis from Houthi attacks hits world trade as cost of shipping soars by 170%english.elpais.comboem@lemmy.world to World News@lemmy.worldEnglish · 1 year agomessage-square101fedilink
minus-squareSyntha@sh.itjust.workslinkfedilinkEnglisharrow-up20arrow-down1·1 year agoEvery 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.
minus-squarerbesfe@lemmy.calinkfedilinkEnglisharrow-up17arrow-down3·1 year agoAnd yet China, who has a naval base in Djibouti, seems to just be sitting back and letting everyone else tackle this
minus-squarenicetriangle@kbin.sociallinkfedilinkarrow-up4·1 year agoBingo. They know that someone else will do something eventually is my guess.
minus-squareDead_or_Alive@lemmy.worldlinkfedilinkEnglisharrow-up3arrow-down3·1 year agoI 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.
minus-squarevoodooattack@lemmy.worldlinkfedilinkEnglisharrow-up2·1 year agoAnd 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.
minus-squareDead_or_Alive@lemmy.worldlinkfedilinkEnglisharrow-up1arrow-down2·1 year agoChina 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/
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
Bingo. They know that someone else will do something eventually is my guess.
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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/