WSJ: “China’s exports to Europe have remained weak during the traditional peak season for shipping, but the country’s trade with the U.S. appears to have more traction, according to the chief executive officer of Maersk Lines, the world’s largest container shipping group.
Søren Skou, who took the helm this year of the container division of the Denmark’s A.P. Møller Maersk A/S said in an interview Wednesday with The Wall Street Journal that his confidence in global trade has deteriorated since June, mostly because of recessionary conditions in Europe, but he said volumes world-wide are likely to expand 4% for the full year compared with 2011.
August is a critical month for the containerized shipping industry, which depends on exports to the West from China for the bulk of its activity. Mr. Skou said his customers appear to be positioning for satisfactory holiday spending in the U.S.—but not Europe.
“The customers are expecting a Christmas season [in the U.S.], which doesn’t appear to be the case in Europe,” he said.”
via China’s Exports to U.S. Gain Traction – WSJ.com.
Some glimmer of hope for (part of) world economy!
CHINDIA ALERT: You'll be living in their world, very soon 