global economic crisis benefits some exporters
my post on wholesalesarong.com - Import & Export Forum :
shrinking global trade is good for some exporters (http://www.wholesalesarong.com/forum/article41.htm)
Global trade has been shrinking for months due to the economic turmoil that has left no country untouched. Consequently, container shipping companies and export-oriented countries suffer most. The export champion Germany recently reported that its GDP fell 3.8% in the first quarter of 2009. Even though Germany’s financial sector has never been as strong as in the U.S. or the U.K. and Europe’s biggest economy does not have a housing crisis either, the country is hard-hit by the global economic crisis because demand for German goods has virtually disappeared overnight.
For some exporters with reliable customers, however, the global crisis might has some upsides, too. Shipping goods half way across the globe had become very expensive because of strong demand and high oil prices until mid-2008. But suddenly, the global economy slumped into recession and oil prices collapsed. Consequently, shipping rates have gone down, fuel surcharges have disappeared.Spot prices for transporting a 40-foot container from Hong Kong to L.A. have fallen below $1000 this week - down more than 50% from a year ago.
(-> Trans-Pacific Spot Rate Falls Below $1,000 )
