Ash Cloud's Economic Fallout Reverberates Throughout Globe

Monday, April 19, 2010

Four hundred tons of flowers sat rotting in the cold room of an airport in Kenya over the weekend, waiting to be shipped to Europe. These flowers are among the first collateral damage of the Icelandic ash cloud which has turned most of Europe's airspace into a no-fly zone and delayed travel for some 6.8 million people.

As the high altitude ash plume from Iceland's Eyjafjallajökull volcano halts air travel around Europe and beyond, we look at another impact the global grounding has made: on commodity trades. Economist Marc Levinson, author of "The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger," unpacks what this rare event reveals about our dependency on shipping and air travel in a globally interconnected economy.

We also talk to Doug Cameron, Dow Jones Chicago Bureau Chief. He oversees manufacturing and transportation coverage for the newswire service.


Doug Cameron and Marc Levinson

Produced by:

Marine Olivesi

Comments [1]

Inge Otto from Bronx

Your statement,that Americans think Europeans make too much of this event, is naive! Just remember the no-flight restrictions after 9/11 and play it out for a week or more in a contiguous country where ground travel - car, train, bus - is a lot easier but far fewer take it! Why make any judgment rather than sympathize. America would be hyper-upset (I have lived here for over 40 years) if it happened to HERE!
Have a good day - without any dark clouds.

Apr. 19 2010 09:56 AM

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