”It is obvious that China will become less competitive in some areas” Maersk Executive Søren Skou says, according to the Wall Street Journal, adding that China is the most important market for the shipping giant and that it is increasingly felt that the manufacturing of goods, such as shoes and toys, is gradually being relocated to countries such as Vietnam and Bangladesh.
While this does not mean that the Chinese export boom is coming to a halt – it is slowing down.
The shipping giant Maersk Line notes a growing trend of shipping products such as various electronics and solar panels out of China. The next step could be automobiles, spare parts, biotech and chemical products, Wall Street Journal writes.
