The economic slowdown has put an end to the increase in demand on freight from Asia to Europe. Furthermore, a structural change has occurred in the Chinese competitiveness which may well affect the freight between Asia and Europe for a long time, Wall Street Journal writes and Maersk Line CEO, Søren Skou, agrees.
“The Chinese market is facing fundamental changes. It is pretty clear China is losing competitiveness in a number of industries”, Søren Skou tells Wall Street Journal and underlines that China is by far the most important export market in the container industry.
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