China’s lockdown causes new supply chain crisis

Updated: Apr 27, 2022 / 09:58 PM CDT

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

Loan Amount ($):

This is the total amount you're borrowing from the bank.

Annual Interest Rate (%):

This is the yearly interest rate on your loan.

Loan Term (years):

This is how long you'll take to repay the loan.

Annual Property Tax ($):

This is the yearly tax you pay on your property.

Annual Homeowners Insurance ($):

This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

CHICAGO (NewsNation) — Beijing, a city of 21 million people, will soon be under lockdown, bringing the total number of Chinese citizens under strict COVID restrictions to 400 million — more than America’s total population.

As a result, port activity in China is as low as during the original lockdown two years ago.

That’s already led to scarcity of some items, and will inevitably evolve into chronic shortages of hundreds of products later in 2022, analysts predict.

Michael Ruben, president and CEO of Florida’s Port Council, joined “On Balance with Leland Vittert” on Wednesday to discuss the harm China’s lockdown has already caused, as well as to predict how much worse the situation could potentially become.

“It’s really a bad version of ‘Groundhog Day’ without Bill Murray’s humor,” Ruben said. “It’s not just the ports. Those ships aren’t picking anything up and they won’t be picking anything up for a while,” he continued.

Check out the rest of the interview above.