Record Ship-Breaking Suggests World Economy Slowing
By Tyler Durden – Zero Hedge
As world trade volume rolled over in late 2018 and into the new year, a sharp decline in shipping rates across all vessel types forced some operators to scrap their ships in Southeast Asia in the first three months of the year, reported The Wall Street Journal.
In all regions of the world, warning signs are flashing red about the health of developed and emerging economies. The IMF downgraded its forecast for global economic growth for the fourth time in three quarters. We are now in a “significantly weakened global expansion,” according to IMF chief economist Gita Gopinath.
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