Chinese New Year and its Impact on Global Supply Chain
Chinese Lunar New Year, also known as the Spring Festival, is the most important traditional festival originating in China, celebrated by more than 2 billion people worldwide. Other than the cultural and spiritual meaning the festival bestows to Chinese people, the 15-day long holiday (beginning with Chinese New Year’s Eve to the Chinese Lantern Festival) has a tremendous impact on the global supply chain, largely due to the uncertainty created by surging demand, decreasing manufacturing capacity, and the logistics disruption.