Global supply chains face a morass of regulatory, political, physical and financial challenges in 2018. These raise at least five risks beyond the normal-course issues identified elsewhere in the Panjiva 2018 Outlook. Marine conflict in the South China Sea resulting from Chinese land claims would restrict trade in the region, though with $164 billion of annual exports at stake China is unlikely to take the first shot. Conflict in the Middle East meanwhile – including a restriction of shipping through the Hormuz Strait – would lead to higher oil prices, reduced activity for container line...