Red Sea Crisis Threatens Asian Exports and Global Supply Chains

Escalating violence and attacks on Houthi militants disrupt key shipping routes, causing chaos for shippers and increasing costs.

The ongoing Red Sea crisis, caused by escalating violence and attacks on Houthi militants by the US and UK, is threatening the supply of key exports from Asia to Europe, including spare parts for electronic goods and automobiles.
The crisis has disrupted traffic through a Red Sea waterway that accounted for 12% of global trade before the conflict, causing chaos for shippers worldwide and increasing the prices and delivery time of imports like oil to Asia.
The Houthi militants have been attacking ships on the Red Sea, delaying the transit of goods by up to two weeks or longer and exacerbating traffic woes on the Suez Canal.
The crisis is also affecting China's export growth and pushing its companies to seek contingency plans for their supply chains ahead of the Lunar New Year, as shipping prices between Europe and China continue to soar.
The situation has provoked fears that the US will become further embroiled in conflicts in the Middle East and provoke a wider regional war.