Niratcha (Grace) Tungtisanont, lecturer in Logistics, Business, and Public Policy, explains the economic aftermath of Malaysia's 2023 actions in the Red Sea, highlighting a consequential 300% hike in Asian shipping costs and broader global supply chain disruptions. By forcing a detour from the Suez Canal's crucial route, these measures not only extend transit times by 20-30% but also elevate costs significantly, impacting consumers, businesses, and corporations worldwide.
Global Pulse is produced by the Center for Global Business at the University of Maryland's Robert H. Smith School of Business. For more information about the center, visit https://www.rhsmith.umd.edu/centers-i...