It used to be possible to say everything about the past year and a lot about the new one on the Feast of Saint Nicholas, the day this editorial was written. Today that’s no longer really the case – but I’ll give it a try anyway.
Hesitation triggered by the return of shutdowns in Asia and Europe is likely to evaporate quickly, as demand in developed markets seems to know hardly any bounds at all. Savings made in the periods of lockdowns now have to be re-invested, after all. I read recently, for example, that the net worth of US households – and not just of the wealthy – has risen by 22% overall, since the start of the pandemic. This process took seven years after the last global financial crisis.
Businesses are also more willing to invest. Near-shoring and the return of industrial jobs are providing some positive impulses. Supply bottlenecks are expected to ease in the course of 2022. I hope that’s not too optimistic, in the face of swelling goods flows and the energy shortage.
Demand for the services of our transport and logistics industry will remain high for the foreseeable future, in any case. So there’s another reason to light a candle and uncork a good bottle of wine for the festive season.
I wish you a merry Christmas and a good 2022.
Yours sincerely, Christian Doepgen, editor-in-chief