Red Sea Shipping Attacks Squeeze China's Exporters

Disruptions to Red Sea freight due to Yemen's Houthi attacks are causing shipping costs to surge, threatening the survival of Chinese exporters like Han Changming's trading company. The vulnerability of China's export-reliant economy to supply snarls and external demand shocks has been exposed, with potential impacts on global supply chains and a shift towards "near-shoring" production. The disruptions are compounding existing challenges for the struggling Chinese economy, with concerns about delayed shipping, container shortages, and the potential closure of companies with shrinking margins.