The global economy’s uneven recovery is raising new challenges, including congested ports in the United States, challenged supply chains and slow deliveries to consumers and retailers. In late May 2021, the Executive Director of the Port of Los Angeles stated, “We are in the seventh month of an unparalleled import surge, driven by unprecedented demands by American consumers.” Los Angeles is the largest port in the United States and, together with Long Beach a bit further south, account for around 30 percent of trade entering and exiting the United States. Although the situation at West Coast ports is slowly improving, it is raising concerns about the potential for price increases (read inflation) and pointing to the fragile nature of global supply chains. Add in U.S.-China tensions global supply chains have become a critical issue not only for U.S. economic growth but the world’s economic growth.
