The impact of unprecedented global upheaval and uncertainty. The global outlook for the road transport industry has never been characterised by so much change and so many challenges. Recent geopolitical and economic disruption has shaken the Old World Order to its foundations, ushering in an era of disruption and uncertainty which threatens frictionless cross-border commerce and free-flowing trade.
In its World Economic Outlook in October 2018, the International Monetary Fund (IMF) issued a stark warning about the damaging impact of burgeoning international trade wars and Brexit. Downgrading global
growth forecasts for 2018, the IMF pointed to higher trade barriers as having the potential to slow the spread of technology and reduce productivity in many countries.
For the road transport industry – one of the most important drivers of global economic growth and productivity – these gathering clouds pose a significant concern. Because, in spite of the precarious outlook for the global economy, demand for international road transport services continues to grow apace. Macro events that threaten to put the brakes on global commerce will therefore have a much widerknock-on effect on the economic health of nations across the world.
Continua con IRU-The future of road transport