World's Biggest Wealth Fund Reveals Bleak View on Global Trade
- Norway’s sovereign wealth fund holds 1.3% of world’s stocks
- Fund says global trade may have reached an ‘inflection point’
Shipping containers sit stacked in this aerial photograph taken above the Busan Port Terminal (BPT) in Busan, South Korea, on Monday, July 17, 2017. South Korea's exports will continue to rise in July and the third quarter as global trade continues to recover and unit costs rise, especially in sectors including semiconductors, vessels, petroleum goods and steel, according to a statement from the trade ministry.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
The man running the world’s biggest sovereign wealth fund says there’s every indication that global trade is suffering from something more serious than a temporary slowdown.
Yngve Slyngstad, chief executive officer of Norges Bank Investment Management, as the fund is known, says the heyday of cross-border trade is probably behind us.