Meanwhile In China
As China's commodity trading bubble pops, volumes falls and the spillover is far wider than just prices the commodities. The Baltic Dry Index (BDI) the most popular benchmark for international maritime transportation prices has declined after an ephemeral bounce, and remains near its all time lows see earlier this year. This might be the best reflection of how oversupplied sea shippers are and how lopsided the supply and demand balance is towards excess capacity and under utility.
The Baltic dry freight index, a more specific benchmark for shipping the Chinese-traded commodities in question, has stalled from its short lived rise in late April and is now rolling over, staging the broader BDI down along with it.
If we used the BDI as a measure of economic I actively (which is a valid argument actually since trade is the lubricant of the global economy), then the world as a whole is beyond just a recession. It's in a depression.
As China's commodity trading bubble pops, volumes falls and the spillover is far wider than just prices the commodities. The Baltic Dry Index (BDI) the most popular benchmark for international maritime transportation prices has declined after an ephemeral bounce, and remains near its all time lows see earlier this year. This might be the best reflection of how oversupplied sea shippers are and how lopsided the supply and demand balance is towards excess capacity and under utility.
The Baltic dry freight index, a more specific benchmark for shipping the Chinese-traded commodities in question, has stalled from its short lived rise in late April and is now rolling over, staging the broader BDI down along with it.
If we used the BDI as a measure of economic I actively (which is a valid argument actually since trade is the lubricant of the global economy), then the world as a whole is beyond just a recession. It's in a depression.