Loading...

{"id":25837,"date":"2023-09-18T18:45:39","date_gmt":"2023-09-18T13:15:39","guid":{"rendered":"https:\/\/thecorporatemagazine.com\/?p=25837"},"modified":"2023-09-18T18:52:59","modified_gmt":"2023-09-18T13:22:59","slug":"maersk-forecasts-long-and-deep-contraction-in-international-trade","status":"publish","type":"post","link":"https:\/\/thecorporatemagazine.com\/maersk-forecasts-long-and-deep-contraction-in-international-trade\/","title":{"rendered":"Maersk forecasts long and deep contraction in international trade"},"content":{"rendered":"\t\t

\n\t\t\t\t\t\t

\n\t\t\t\t\t\t

\n\t\t\t\t\t

\n\t\t\t

\n\t\t\t\t\t\t

\n\t\t\t\t

\n\t\t\t

Maersk forecasts long and deep contraction in international trade<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t $\"\"$ \t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t
September 18, 2023:According to the CEO of shipping titan Maersk forecasts long and deep contraction in international trade.<\/p>
“Barring any negative surprises, we would hope for a slow pickup as we get into the coming year, a pickup that will not be a crack like what we have known in the past few years, but certainly, a demand that is a bit more in line with what we see in terms of consumption, and not so much an inventory correction,” Vincent Clerc told.<\/p>
Clerc stated consumers in the U.S. and Europe have been key drivers in this demand uptick, and those markets have continued to “surprise on the upside.”<\/p>
In 2022, the shipping firm warned of weak demand as warehouses filled with unwanted goods, with consumer confidence stuttering and supply chains congested.<\/p>
The upcoming pickup would be fueled by consumption, he said, rather than the “inventory correction,” which has featured heavily during 2023.<\/p>
Clerc said emerging markets are proving resilient despite the challenging economic climate, particularly in the cases of India, Latin America, and Africa.<\/p>
North America is also vital for the next year despite faltering along with many other major economies due to macroeconomic factors, including Russia’s full-scale invasion of Ukraine and tensions with China.<\/p>
\u201cAs this starts to normalize and works itself out, we will see a rebound in demand,\u201d Clerc said.<\/p>
\u201cI would say emerging markets and North America are certainly the points where we see the most upside potential,\u201d he added.<\/p>
But the road to bolstering global trade and growth could be smoother, as IMF Managing Director Kristalina Georgieva highlighted in a recent interview with CNBC.<\/p>
“What we see today is very troubling,” Georgieva told on the sidelines of the Group of 20 nations leaders’ summit in New Delhi.<\/p>
“There is fragmentation in our world. Global trade grows slower than the global economy for the first time, with 2% trade and 3% global growth. Suppose we want trade to become, again, an engine of growth. In that case, we must create corridors and opportunities,” she said, referencing a planned rail-to-sea economic corridor linking India with Middle Eastern and European countries.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t Next<\/span>FBI is examining damaging activities against administrators in Fulton County, Georgia<\/span><\/span>