The last time the Baltic Dry Index fell as heavily as it has in recent weeks was during the global financial crisis of 2008. China is the country that unites the two slumps, unsurprising as it is the source for 40% of this kind of seaborne trade.
When China catches a metaphorical cold, the rest of the world sneezes. Or in this case, when China is at the centre of a live and shocking coronavirus epidemic, then global bulk trades are bound to look pretty sick.
