Nations’ trading partners are increasingly likely to be geopolitically aligned — a shift away from unfettered global trade, according to research from McKinsey.
The rising use of sanctions, tariffs and government pressure have contributed to a trend that has had positive economic benefits for shipping, the management consultancy’s partner Steve Saxon told the Marine Money conference in London.
He highlighted how Chinese trade with near neighbours Japan and South Korea has declined, while it is doing more business with Latin America and South East Asian nations.
