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Nordea: Shipping benefits from elections in the US and China

The first reports from the new presidents of the United States and China, respectively, bring good news for the world’s free trade, and thus the shipping industry’s need for more transport, says Nordea to ShippingWatch.

Chief Economist at Nordea, Helge Pedersen, estimates that the election of US President Barack Obama, and China’s future president, Xi Jinping, was the best thing that could happen for international commerce, the shipping industry included.

“That Barack Obama won the US election is a good thing for the development of the world trade. It could strengthen the free trade, which he has advocated a lot compared to Mitt Romney, who kept a harder profile and was more focused on protecting American jobs. The new Chinese president also looks to be more internationally aware. We are generally looking at a new generation of highly educated politicians, with international backgrounds and experience from abroad. So these are positive signs for the world trade, and thus for the shipping industry as well,” says Helge Pedersen.

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