DOJ Indicts Global Container Cartel For Price Fixing #
Four companies that represent 95% of the world’s dry shipping container production are now under federal indictment for a global conspiracy. The Department of Justice unsealed charges against China International Marine Containers (CIMC) and three other firms, alleging they colluded to restrict output and fix prices during the COVID-era supply chain crisis. Seven Chinese executives are named in the filing, which describes a scheme that affected billions of dollars in global commerce. This cartel is the invisible hand behind the record inflation at your local grocery store. While the powerful talk about 'free markets,' they are actually managing a global monopoly that treats your cost of living as their profit margin.