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America first is really China first it seems.
We will never forget Trumps heroic sacrifice for the Chinese people and CCP.
Chairman of CMA CGN, company by the way is a big CSSC customer, is saying that Beijing regulators want some sort of hike ceiling to the freight rates.
If cargo is mostly one way, the result is that cargo is going to have to bear a two way freight rate without the balance of US to China export.
The current problem of freight in China is that container is mostly export, and import is mostly bulk freighter and tanker because the importation is mostly raw material like grain, fruit, ore, gas and oil.
In order to reduce the container rates, China needs more imports through containers in order to pay for the return trip.