The bullish mood that characterized the air cargo industry in 2017 and the first part of 2018 as freight volumes kept growing has been replaced by a more somber sentiment: Demand is in decline and fears over the ongoing trade war between the US and China are fueling broader long-term concerns about the global economy. In its latest world economic outlook, published in mid-September, the Oxford Economics consultancy forecasts global GDP growth in 2019 will slip slightly below 2016’s ...

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