By all accounts 2023 is going to be another difficult year, one that’s going to ask tough questions of folks in the freight industry.Talk to operators in various sectors of supply chain and logistics, from the liner trade through to airfreight and road transport, and all agree – volumes are down and what seems like a looming global recession is putting the squeeze on costs with resulting impacts passed on to consumers.Any rebound to speak of will most likely only occur in 2024, at best towards the end of next year.One only needs to look at what’s coming out of China at the moment – nothing much at all except rising Covid cases.And although it may be seen as a blessing in disguise that Xi Jinping has dug in his heels about his country’s zero lockdown measures, for world trade with the Asian behemoth to shut down the way it has, is bad news all around.It begs the question though, why so many emerging markets still focus on retaining China as their leading trading partner.South Africa for example, had we more visionary leadership, would serve itself well to look for more diversified trading prospects as opposed to its over-reliance on China.Furthermore, recovery doesn’t look as if it will result in a re-set of opportunities and prosperity pre-Covid. Everything but in fact.Whereas the pandemic came and sowed havoc across the globe, its wake ushered in supply chain challenges that no one could foresee.Moreover, although conf lict on Ukraine’s Donbas border had been brewing since 2013’s Maidan Upraising in Kiev, Vladimir Putin’s ‘special military operation’ showed that if things can get worse they probably will.Since then, much has emerged to support predictions of a retreat from globalisation.World Trade Organization economist Bob Koopman has held the view since Russia went on the offensive in February 2022, that world economies are re-aligning, many of them along ideological interests.So how do you chart a course through uncertainty and the re-clustering of world markets?With difficulty of course, made easier by having access to reliable information through media outlets like Freight News, South Africa’s premier niche news site for import and export decision makers.Although we don’t call ourselves Freight & Trading Weekly any more, we still have our finger on the pulse of all matters pertaining to freight and trade.We’re your companion in the cargo world and we’re looking forward to face the future with you, whatever it may bring.
