Persian Gulf War Disrupts Trade as Goods Pile Up in China’s Yiwu
The ongoing war in the Persian Gulf, as well as the closure of the Strait of Hormuz, is significantly impacting global trade, especially in Yiwu, China, which is known as the "world’s supermarket." Due to the sharp increase in shipping costs from $1,200 to $6,000 per container, as well as the dangerous routes, a large amount of goods, such as safety boots and kitchenware, are simply accumulating in warehouses rather than being shipped to the Middle East. Although China’s energy supplies are stable because of strategic reserves, the situation for merchants is difficult because of the high cost of raw materials as well as canceled orders. However, the current crisis aside, the overall attitude of Chinese businessmen is positive, as they consider the war a temporary issue that will allow them to benefit from reconstruction in the future.








