Maersk CEO is bearish on Trump’s US, bullish on Europe and Africa
Global trade is not at risk of stopping, but we also have to acknowledge that we probably won’t get to see new, large free-trade agreements
Copenhagen — The CEO of the world’s biggest shipping company says curbs on immigration backed by the administration of President Donald Trump risk hurting the US economy. "The US economy is running at full steam and therefore wages have started to rise", which "in itself is positive", Soren Skou, the CEO of AP Moller-Maersk, said in an interview. "But if the US succeeds in cutting off immigration, it will be very challenging to keep the economy going at the same pace." Running a company that transports goods around the world puts Skou in a unique position to observe how a wave of protectionism is reshaping the global trade map. As the Trump administration blames globalisation for pummelling the middle classes, the Maersk CEO says it is clear other regions are emerging as economic powerhouses. "My personal belief is that Europe has more potential," Skou said. "There are parts of Europe with a lot of potential if they make reforms that strengthen their labour markets and seize the opp...
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