China's Premier Li Qiang affirms that US President Donald Trump is to blame for the collapse in the global trading system. According to Li Qiang, Trump's hefty import tariffs have accelerated the fragmentation of the global economy and splintered international supply chains. Though the IMF had warned of this threat long before Trump took office, his customs policy has turned risk into reality.
Li Qiang highlighted the urgent need for measures to address this issue. Only open and mutually beneficial cooperation between countries can ensure global economic growth, which is stalling due to a considerable slowdown in demand. The regionalization of trade is damaging to the global system.
FedEx CEO Raj Subramaniam predicts a radical transformation of global logistics into a regional transportation system. The adaptation of industry to these new realities will require significant time and resources.
