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The COVID-19 outbreak which started in China in late 2019 and then spread worldwide necessitated a set of containment measures, such as border closures and restrictions on mobility. This affected freight turnover which was hindered by limited infrastructure and influenced the behavior of logistics market players who were forced to search for new routes. In this context rail transport became preferable over other modes of transport due to its reliability and uninterrupted functioning.
Global trade is slowing as the Ukraine conflict and its consequences have replaced the pandemic as the leading drag on growth.
China's factory output and retail sales growth slowed sharply and missed expectations in July, as new COVID-19 outbreaks and floods disrupted business operations, adding to signs the economic recovery is losing momentum.
The economic sentiment in the Eurozone is reaching new heights, suggesting the long-awaited recovery is finally gathering speed. But risks remain, including the spread of COVID-19 variants leading to new restrictions, and scarce input factors for the European industry.
The half-year health check on the state of the maritime markets finds shipowners in a better place than they anticipated 12 months ago. While tankers will have to wait for a meaningful vaccine-led recovery, box and bulk are booming.
The paths of the COVID-19 pandemic and the recovery of the global economy remain impossible to predict. But it is becoming increasingly clear that, disruptive impact on international trade will leave a lasting mark. Companies should take a fresh, holistic view of the markets and trade relationships that are likely to drive growth and secure competitive advantage in the post-COVID-19 world.
The country already has an extensive high-speed passenger network and is now looking to develop new goods trains. Rail bosses believe demand from online retailers will help drive the development of the network
COVID-19 will likely affect trade more profoundly than any other recent crisis. The extent of the disruption will vary by commodity, trade lane, and mode of transport, and it will be steered by local differences in the crisis’s severity
While the COVID-19 Pandemic has brought unprecedented disruption to the world economy, it has also strengthened the rail links between China and Europe, and industry experts believe the growing volume of rail freight between East and West will aid the economic recovery of countries and regions along the routes of the Belt & Road Initiative
