Moller-Maersk A/S — the world’s largest owner of container ships and a bellwether of global trade — says global container demand in 3QFY2022 ended September is now expected to shrink between 2% and 4% this year, compared with its previous guidance at the lower end of the ±1% range.
Singapore is planning to strengthen its foothold in the global supply chain and trading industry with the Tuas megaport. But deglobalisation threatens to derail Singapore’s ambition of turning from an entrepôt to global trading hub. How can the country push ahead?
The signs pointing towards the downturn of international trade are hard to miss. World events over the last couple of years have unfolded into the perfect storm for the global economy, and businesses around the world are bracing for impact.
