More postcards from the real economy: enormous global overcapacity is proving a formidable headwind to growth expectations. World trade has been falling since 2010 and the world is awash in overcapacity and oversupply: this is the same “huge misjudgment of the market” embedded in overly optimistic stock prices today.
Bloomberg Europe Editor David Tweed takes you to Germany’s deepest shipping port, which sits nearly empty due to the global slowdown in the container shipping trade.Here is a direct link.
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