“In 2008-2009, the impact on the logistics industry was not that big. Because it was a financial crisis. This time, the impact on all manufacturing firms is far greater. But on the other hand, everyone is talking about a consumption-rebound or spending. That would really depend on the actual end of this pandemic. I believe that there will be a wave of purchasing if the pandemic really ends.”
Cliff Xu, Managing Director – Rhenus China (Eastern, Central & Northern regions) attended a webinar hosted by Savills in Shanghai, on the effects of Covid-19. Above is an excerpt of his response when asked to compare the financial crisis of 2008-2009 with the current Covid-19 related economic crisis.
How does the crisis now compare to the financial crisis during 2008-2009? Is it possible that after the outbreak is over, there will be a rapid and substantial recovery in our entire freight logistics industry?
It seems that the growth of some e-commerce platforms has reached a choke-point in the past two years?