Global CEO of logistics giant DHL Express John Pearson said that India, Vietnam, Philippines, and Thailand came out as sort of clear winners from the Global Trade Atlas in terms of benefiting from global trade.
India, Vietnam, Philippines and Thailand are emerging as strong backups for those diversifying their supply chains says John Pearson, the Global CEO of logistics giant DHL Express. But he also cautions against over-estimating the shift out of China.
Pearson said, “The Global Trade Atlas, which we did as a one off report is extremely positive. In fact, India, Vietnam, Philippines, and Thailand came out as sort of clear winners from the GLOBAL TRADE ATLAS in terms of benefiting from global trade, perhaps benefiting from somewhat of a China Plus One strategy, and really driving trade in Southeast Asia, and Asia Pacific as a whole.”
He added, “Changing the primary, secondary or tertiary supply chain partners is actually a very complex thing. So people think they may want to depend less on China. But changing here or there doesn't necessarily lower that level of dependency. What we are seeing, though, is that the Global Trade Atlas, very clearly said, is that India, Vietnam, Philippines, Thailand, some of these countries are strong beneficiaries of a more flexible and backup oriented supply chain setup, as opposed to just depending on China. So that is happening and we can see our volume growth out of those markets is extremely strong.”
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(Edited by : Anushka Sharma)
First Published: Nov 30, 2022 9:50 PM IST