Factory Price of Goods

01 导读
Factory Price of Goods

② The boom is creating two kinds of bottleneck. The first relates to supply chains. There are shortages of everything from timber to semiconductors. The cost of shipping goods from China to America has tripled. Companies have not reported supplier delays this severe in decades. In the past year many firms have cut their investment in logistics. Lockdowns have left some container ships stranded. Companies are trying to go from 0 to 60 and it shows.

Factory Price of Goods
go from 0 to 60: The time it takes to accelerate from 0 to 60 mph is a commonly used performance measure for automotive acceleration in the United States and the United Kingdom.表示汽车启动,从启动到高速运转,速度从0到60英里每小时(约97km/h),此处引申为企业加大运转量。and it shows=it is obvious

③ The second kind of bottleneck is in labour markets. In April America created only 266,000 jobs, many fewer than the 1m or more that had been expected. Yet job vacancies are at all-time highs, and so firms are struggling to fill positions. Economists argue over whether generous unemployment benefits are giving people a reason not to look for work. It also takes time for people to move from dying industries to growing ones.

Factory Price of Goods

④ As booming demand runs up against tight supply, inflation is in the spotlight. In April American consumer prices rose by 4.2% year on year, up from 2.6% in March. This partly reflects “base effects”: oil prices are only as high as they were in 2019, but 272% higher than in April 2020. It also reflects a genuine underlying rise in global prices. China’s factory-gate prices are rising at the fastest rate in over three years.

Factory Price of Goods

⑥ Yet this approach carries dangers. One is that inflation fades slowly. The supply bottlenecks of the early phase of the pandemic in 2020 cleared fast, but there is no guarantee this will happen now. Inflation expectations may also rise if people come to believe that central banks will act slowly and too late. Many companies are now discussing inflation with their investors. Bond-market traders think the Fed will be forced to act sooner than it wants. Bill Dudley, a former governor, worries that the Fed will have to raise interest rates to as high as 4.5% to cool the economy.

Factory Price of Goods

⑦ This points to the danger that sharp rate rises rock markets. So far the main event has been a sell-off in tech stocks, which is manageable. Banks are well capitalised. Yet the recent implosions of Archegos, a hedge fund, and Greensill Capital, a finance firm, are a reminder of the hidden leverage in a financial system that has come to depend on low interest rates. The post-pandemic boom may not always be exciting for the right reasons.

Factory Price of Goods

翻译组:

Rex,男,口译硕士,集书狂魔,经学钢粉

Lora,女,一笔二口,广外MTI,学习使我快乐CC,女,翻硕在读,笔译的践行者,口译的躁动者

Mai,男,经济学博士,世界那么大,我想活得久一点

校对组:

Luc,男,在北京,喜欢睡觉

Dossver,男,一心搬砖,偷空旅游

Wesley,男,英语老师,经济学人铁粉

Factory Price of Goods
04 愿景

打造 独立思考 | 国际视野 | 英文学习 小组

现有经济学人讨论群一个,如果您也有兴趣,可私信小编“ v”获取

—End—

更多可点击文末 “了解更多”

#经济# #瓶颈# #通胀#

本站部分内容由互联网用户自发贡献,该文观点仅代表作者本人,本站仅提供信息存储空间服务,不拥有所有权,不承担相关法律责任。 如发现本站有涉嫌抄袭侵权/违法违规等内容,请举报!一经查实,本站将立刻删除。
本站部分内容由互联网用户自发贡献,该文观点仅代表作者本人,本站仅提供信息存储空间服务,不拥有所有权,不承担相关法律责任。

如发现本站有涉嫌抄袭侵权/违法违规等内容,请<举报!一经查实,本站将立刻删除。