Difference between revisions of "Sisyphus"
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As a result of the terrible world crisis of 2008, the global economies have experienced an imposing decline which has derived into a minimal internationalization of trading and therefore a very low maritime flow of goods among the continents. | As a result of the terrible world crisis of 2008, the global economies have experienced an imposing decline which has derived into a minimal internationalization of trading and therefore a very low maritime flow of goods among the continents. | ||
Although the Chinese economy initially kept growing despite the financial crisis, the internal market was not developped and a point came where the Chinese government had to stop its significant support to the economy. | |||
Similar patterns were seen in other BRIC countries. As their economies stayed behind, wages were kept low and therefore these countries remained the manufacturers for the west. With the lower economic growth in the western world this also meant a reduced need for manufactured goods from the east. | |||
The volumes of cargo shipments from large multinationals have considerably decreased and the prices of the shipments have been quickly going down. | Nowadays in 2020 we suffer still the consequences of the financial crisis in which the global economies have not been able to catch up and position themselves as the previous “golden years”. | ||
The volumes of cargo shipments from large multinationals have considerably decreased and the prices of the shipments have been quickly going down. For years bigger is better had been driving the ship sizes, but within the new reality, medium sized flexible ships were most cost effective. | |||
With the objective of surviving, the carriers companies have initiated a battle in which all rules from the “World Trade Organization, WTO” have been broken and the free movement of goods among richer countries is been harmed. As a consequence, many carriers have consolidated into few companies and all intermediate routes have been cancelled remaining only the connection between few maritime hubs. | With the objective of surviving, the carriers companies have initiated a battle in which all rules from the “World Trade Organization, WTO” have been broken and the free movement of goods among richer countries is been harmed. As a consequence, many carriers have consolidated into few companies and all intermediate routes have been cancelled remaining only the connection between few maritime hubs. | ||
Latest revision as of 23:07, 23 October 2009
As a result of the terrible world crisis of 2008, the global economies have experienced an imposing decline which has derived into a minimal internationalization of trading and therefore a very low maritime flow of goods among the continents.
Although the Chinese economy initially kept growing despite the financial crisis, the internal market was not developped and a point came where the Chinese government had to stop its significant support to the economy. Similar patterns were seen in other BRIC countries. As their economies stayed behind, wages were kept low and therefore these countries remained the manufacturers for the west. With the lower economic growth in the western world this also meant a reduced need for manufactured goods from the east.
Nowadays in 2020 we suffer still the consequences of the financial crisis in which the global economies have not been able to catch up and position themselves as the previous “golden years”.
The volumes of cargo shipments from large multinationals have considerably decreased and the prices of the shipments have been quickly going down. For years bigger is better had been driving the ship sizes, but within the new reality, medium sized flexible ships were most cost effective.
With the objective of surviving, the carriers companies have initiated a battle in which all rules from the “World Trade Organization, WTO” have been broken and the free movement of goods among richer countries is been harmed. As a consequence, many carriers have consolidated into few companies and all intermediate routes have been cancelled remaining only the connection between few maritime hubs.
Michelle Obama, current president of WTO and wife of the former US president and Nobel peace prize Barack Obama, have declared that “In an effort to defend the globalization movement, and taking advantage of low shipment prices, the objectives of the WTO would focus on regulate and favour the trade with third and second world countries”.
This endeavour could definitely open a new door for the global maritime trade in the coming years.