Only a few years ago, it seemed that our world, despite its spherical shape, was stretching to fit into a two-dimensional level playing field. The internet softly, almost hesitantly, started disrupting industries since the dot.com era, and technological innovations have been aggressively destroying market inefficiencies and rent-seeking industries ever since. During the last two decades, it had been easy to access information, to make decisions, to trade; it was easy for people to travel and for goods to be traded and shipped around. A few well-timed events (such as China’s accession to the WTO in 2001) only helped catalyze and amplify the impact of technology.
However, in the last couple of years, it seems that our world, especially when it comes to trade and shipping, sails against the winds. Clouds have been gathering slowly – politics and the outcome of elections are just a symptom for now, and trade volumes have been declining.
Basil M Karatzas had recently published an article in the Cayman Financial Review (Winter Edition) on the subject, mostly evaluating the topic from the shipowner’s point of view. The original article as posted online can be accessed by clicking here. A pdf version of the article from the print version / magazine can be be accessed by clicking on the image below.
It seems flat… Click on the picture to access the pdf article. Image credit: Karatzas Images
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