Why Recessions Forge Great CEOs Who Think Beyond Cost-Cutting
04/15/2025
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But the CEOs who make history in downturns aren’t the ones with the deepest cuts
June 1, 2023: According to a Nomura description, fewer than 6% of U.S. flights to and from mainland China in 2019 have resumed.
In distinction, the report showed that flights between mainland China and Egypt, Saudi Arabia, and Italy are almost back to pre-pandemic frequency or better, citing data as of May 22 from Variflight.
“We think geopolitical factors in China’s outbound tourism resurrection are clearly at play here,” Nomura’s Chief China Economist Ting Lu and a team stated in the report on Monday.
In March, China brokered the repair of diplomatic ties between Middle East opponents Saudi Arabia and Iran. Beijing has refused to condemn Russia’s unprovoked invasion of Ukraine while calling for peace talks.
Tensions between the U.S. and China have meanwhile simmered. China’s representative to the U.S. assumed office the previous week after a gap of about six months with no one in the position.
This past weekend, an Air China flight between Beijing and New York marked a Chinese carrier’s first direct passenger on the route in months. It was one of the four unique weekly flights between the two countries by Chinese airlines that the U.S. Department of Transportation approved in May.
Previously, the only regular wild flights by Chinese carriers between mainland China and New York since the pandemic were from Shanghai and Guangzhou. The cross-border non-stop flights also cover Los Angeles.
On the other hand, reports say U.S.-based airlines control chosen only to resume a few flights between the U.S. and China. That’s because restrictions on flying over Russian airspace give Chinese carriers an advantage, an added cost of $2 billion a year for the three major U.S.-based airlines.
In early January, Beijing relaxed border controls after nearly three years. It scrapped inbound quarantine requirements while allowing more people to get visas for travel in and out of the mainland.
Delta resumed direct flights between the U.S. and China from Shanghai to Seattle and Detroit in March.
Overall, mainland China’s international flights remain below 40% of 2019 levels, the Nomura report said.
The analysts expect that level to increase to 70% by year-end as international flights recover around the summer holiday season.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
Companies invest millions in leadership development, yet many of their best executives leave within a few years. Why?
The most successful business leaders don’t just identify gaps in the market; they anticipate future needs before anyone else.
With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
The leadership landscape is profoundly changing, influenced by technological advancements, shifting workforce expectations, and the need for adaptability in an unpredictable global environment.
In the fast-paced business world, corporate leaders often find themselves at the crossroads of risk and reward, where bold decisions …
April 24, 2025: Silicon Valley is experiencing a sharp recalibration in artificial intelligence investment, with signs of AI fatigue emerging across venture capital
April 23, 2025: The Canadian government has introduced new legislation to regulate the use of artificial intelligence in education and healthcare, focusing on accountability,
April 17, 2025: Prime Minister Justin Trudeau s government is under growing political pressure over its current immigration strategy.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
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