In this podcast [min 49], Insightview has interviewed Steffen Schiottz-Christensen, Managing Director, China-Hong Kong, at Nordic Transport Group A/S - a company listed on Nasdaq Nordic. Steffen Schiottz-Christensen is a long-term China resident and past CEO/VP of Maersk, SHV Energy and IFU in China.
Steffen lives in Chengdu in the Sichuan province. Yesterday, the city of 21 million people was ordered into lockdown due to a new Covid outbreak. Insightview.eu asks why pessimism prevails in China today. Steffen says that Covid-fatigue prevails. Many foreigners and rich Chinese households have already left the country - and other Chinese would do the same if they could afford such a decision - and if they could get a passport. We also talk about "silent protests".
We talk about container freight rates and excessively high inventories in Europe and the United States. We also talk about how Chinese manufacturers are now in a much better position than European manufacturers due to cheap energy from Russia and falling container freight rates “out of China”. This is supposed to be positive for China’s export sector. We also discuss how China, a net importer of LNG, can export LNG to Europe. [Read also the Nikkei Asia article, China throws Europe an energy lifeline with LNG resales.] Furthermore, we discuss Chinese households' "safest" investment, the housing market.
There is free access to this podcast.
Music: Melodyloops, 'Technology Park' – by MediaM
