re: Cost of shipping container from China up to record high of $20,586

Apparently the biggest problem is not the Chinese export market, but it's actually the shitshow disaister that is the state of California.

See, virtually all of Chinese imports go through three ports: LA, Long Beach, and Oakland.

And with 100 ships literally just floating to get into Port, the complete and utter failure that is the state of California doesn't even work the docks on weekends or anything other than regular working hours. They claim they can't even find enough workers (mind you California is also paying people their own stimulus checks from the state and did not cut off federal $300/week unemployment, as many states did to get people back to working), plus the unions won't agree to anything. They can't eceb get the docks to unload 24 hours a day, which is what should be going on right now.

The WSJ just put out a piece a few days ago saying that Nike won't have enough shoes to sell soon and that all these electronics and toy companies won't have enough stock to meet the Christmas shopping season demand. And it's largely due to the California ports.... Not China.

But China is not off the hook totally, the semi-conductor shortage is because of them. But India is trying to capitalize.

In March, the Indian PM said the country would pay any chip manufacturing company $1 blion to move their manufacturing base to India.

quote:

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 India is offering more than $1 billion in cash to each semiconductor company that sets up manufacturing units in the country as it seeks to build on its smartphone assembly industry and strengthen its electronics supply chain, two officials said.

Prime Minister Narendra Modi’s ‘Make in India’ drive has helped to turn India into the world’s second-biggest mobile manufacturer after China. New Delhi believes it is time for chip companies to set up in the country.

“The government will give cash incentives of more than $1 billion to each company which will set up chip fabrication units,” a senior government official told Reuters, declining to be named as he was not authorised to speak with media.

How to disburse the cash incentives has yet to be decided and the government has asked the industry for feedback, said a second government source, who also declined to be identified.
Governments across the world are subsidising the construction of semiconductor plants as chip shortages hobble the auto and electronics industries and highlight the world’s dependence on Taiwan for supplies.

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