China tensions speed global trade shifts: shipping CEOBloombergPolitical tensions between the US and China are contributing to lower container shipments between the world’s two largest economies, on top of an already-underway reshaping of global trade, a major shipping industry executive said. “We are seeing a deleveraging of trade between the US and China,” Ocean Network Express Holdings Ltd CEO Jeremy Nixon said at the Capital Link Singapore Maritime Forum. “Many companies in the US are looking to reduce down the amount of imports they have got coming from China,” Nixon said. Tensions have flared over issues from Taiwan to the alleged spy balloon that was shot down over the US. Separately, global political frictions could cause turmoil in economic growth and inflation, European Central Bank Executive Board member Fabio Panetta said.
