CCI Newsletter 2 - 2021-2022

Wanzhou, the CFO of Huawei, was held at the request of the USA from 2018 - 2021, straining trade relations even further between the two countries. Natural disasters like forest fires, extreme winds, floods and hurricanes seem to hit every month in 2020. But it wasn ’ t just confined to 2020! Remember when the Ever Given turned sideways in the Suez Canal for 6 days in March 2021? It resulted in an estimated $54 billion in trade losses. June 2021 saw a whole container ship sink, including its almost 1,500 containers, off the coast of Sri Lanka. In October 2021, the container ship, Zim Kingston, lost more than 100 of

its 2,000 containers overboard while the ones remaining onboard risked being damaged by a fire. No one knows what materials or goods have been lost as a result. “ Buy Canadian ” is great! You ’ ll find, though, many ingredients are sourced out of country, even if something is assembled in Canada. Contractors This is all horrible, but why is it affecting your window installation, right? The Pandemic has put strain in other areas of the economy, as well. Contractors have been closing their doors due to increases in insurance costs, decreases in workforce availability and some didn ’ t survive the lack of income during the first (or second) pandemic shutdowns. Our office is seeing labour shortages affecting masonry/ brickwork, roofing, window/door installations, landscaping, fencing installation and the list goes on. This combination of labour shortages in delivery/ supply and installation means goods can ’ t get to you quickly. London (and most of our area) is experiencing

CCI Review 2021/2022 —November 2021 - 23

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