Stacked at 6 to 7 levels! Shipping Rates Plummet and China is losing the world's factory status
We previously reported that China is losing its status as the world's factory. The growing number of empty containers piling up in Chinese ports is confirming this. This is the current Yangshan Port in Shanghai, with mountains of containers piled up.
Not only in Shanghai, but the phenomenon of empty containers piling up is also seen in Guangzhou, Shenzhen, and other major ports in China.
The number of empty containers at Shenzhen Yantian Port in early January has hit a record high since March 2020, with empty containers stacked at 6 to 7 levels. The once congested road is now empty. Trucks are parked all over the parking lot. The China Shipping Information Platform reported that "it is likely to break the largest empty container pile in the 29 years since Yantian Port opened."
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Its only going to get far worse for them all, china's rulers don't care about the lowly peasants. After all they have the largest population in the world, they don't care to loose a large chunk of them.