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There are many heated discussions about where the world economy is heading. Wei Jiafu is the president and CEO of China Ocean Shipping Company. He says the world economy is gradually recovering, thanks to a combined international effort. He also explains how the iron ore market is faring in China.
Wei Jiafu, President & CEO of COSCO said "Under the recent macro regulatory policy, both steel usage and demand have been trimmed. With steel production dropping, prices are sliding and the demand for imported iron ore has plunged. And discussions on imported iron ore prices are still ongoing, so the Baltic Index has been falling. But in the same situation, investors may gain some profits from the bulk cargo market."