Shanghai Port Hit with Protests – On Wednesday, truckers in Shanghai began protesting rising port fees and fuel prices. These demonstrations have caused delays for one of the world’s most important trading hubs. Chinese authorities have cracked down on the truckers and arrested some of the demonstrators.
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100% Container Scanning on Hold – A plan to scan all U.S. bound ocean containers by July 2012 may be on hold if a new Senate bill is successful. U.S. Customs and Border Protection (CBP) carried out a pilot test of the program and determined that, while feasible at smaller ports, implementation at larger ports was not viable. The effectiveness and practicality of 100% scanning is still being debated.
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South Africa Joins BRIC – The so-called BRIC group of emerging economics (Brazil, Russia, India, China) added a new country (South Africa) and “S” to their name – BRICS. South Africa joined the group’s third summit which was hosted in China. The move surprised many, including the Goldman Sachs economist that originally coined the term BRIC. Some feel that larger economies like South Korea, Mexico, or Turkey would be a more appropriate fit.
Read more from the Guardian