Growth in Intra-Asia Trade Seen to Drive Global Freight Industry
GUANGZHOU, China, Nov. 12 (Reuters) - Intra-Asia trade will be the lynchpin for the global shipping industry in the near term as the West slowly recovers from the financial crisis, senior maritime executives said.
Led by growing consumer consumption in China and India, intra-Asia trade has remained resilient despite a huge dropoff in overall freight traffic over the last two years.
''Boosted by the expansion of China's domestic market, intra-Asia trade was able to reduce the impact of an economic recession,'' said Bronson Hsieh, chairman of Taiwan's Evergreen Marine at an industry conference.
''There is no question that intra-Asia trade will be the focal …
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Publication information: Article title: Growth in Intra-Asia Trade Seen to Drive Global Freight Industry. Contributors: Not available. Newspaper title: Manila Bulletin. Publication date: November 12, 2010. Page number: Not available. © 2009 Manila Bulletin Publishing Corp. COPYRIGHT 2010 Gale Group.
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