British media: global air cargo volume dropped to its lowest level in 7 years

The sharp drop in air cargo volumes across Europe and Asia has raised concerns that global trade is declining and affecting the global economy.

Cass Cargo Transport Index warns that air cargo volume in Europe and Asia has fallen to its lowest level in seven years. This shows that the euro zone economy is cooling down again, while Asia is on the verge of recession. < p > < p > In February this year, with the deepening downward momentum of regional trade in Europe, European air cargo volume fell by 7% year on year. In Asia, air cargo volume fell 14% year-on-year.

The international trade body was shocked by the return of protectionist tariff policy, the slowdown of China's economic growth and the downturn of the automobile industry.

Beijing said this week that China's economic growth in the first quarter was concealed at 6.4%. "When we talk about Korea, Taiwan and Singapore, these economies are an integral part of the global supply and demand chain," said Rick Perrett-Green, strategist at AdMacro.

He said that the decline of the semiconductor industry, which is mainly based in Asia, "tells people that the global supply chain is not doing well".