The Ledger
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Levinson: Rapid economic growth and multiplying incomes will not recur
“The golden age was actually the exceptional time. It's not normal that economies grow at a rapid pace. It's not normal that incomes double or triple or quadruple in the matter of just a few years, and I don't think we should expect that to recur.”
Levinson: China's growth will slow to a couple percent annually
“But China's not going to grow at 10% a year for the next Half century. It's becoming much more like a normal, mature economy in which the growth rate is a couple of percent a year, and that's all they're going to be able to expect.”
Levinson: Ocean shipping consolidation will raise rates and reduce competition
“There are now probably three so-called alliances of container carriers that kind of dominate world trade. So we may be in an environment in which there are few enough players that they'll be able to have a better handle on prices, on shipping rates, and that w…”