(Mike King – Lloyd’s Loading List)
The diminishing power of the forces that have driven globalization and east-west trade growth are rapidly being supplanted by thriving regional trade and localized supply chain demands, according to leading executives speaking this week at Transport Intelligence’s Emerging Markets Logistics conference in Singapore.
The near-sourcing of manufacturing, increasing protectionism, the ability of ‘fracking’ to reduce energy costs, along with supply chain risk and inventory reduction strategies are all factors in the move towards more regionalization, delegates heard.
Chris Price, Asia Pacific CEO at Agility Logistics, said the Asia Pacific market was opening up and maturing simultaneously. While this would mean that East-West trades would continue to grow, regional trades would grow faster. “Agility’s big focus is on intra-Asia. It’s a huge and dynamic market,” he said. Read more here.