Research the Impact of Rising Freight Rates on the Real Economy under COVID-19

Abstract

In the deep integration of global industrial and supply chains, COVID-19 has negatively impacted global flows of goods, people, and capital, resulting in disruptions to the global supply chain. The transportation industry plays a vital role in the real economy in contemporary society because most enterprises in the real economy are production-oriented. Most of them need to support their industrial chain through transportation. Since the lack of concern from society has contributed to the difficult development of these real economy enterprises, actions such as subsidies, controlling the freight rates, and other staff like that should be taken to prevent the economic crisis. This paper summarizes the phenomenon of rising freight rates and its impact on the real economy under the pandemic through data analysis and real-life example analysis. Moreover, through the conclusions drawn in the observation and understanding of the needs of entrepreneurs in real cases, some solutions have been developed to improve this problem.