Fascinating chart from Barry Ritholtz' site. You cannot look at this chart without realizing that the U.S. in trouble. These are the busiest ports in the world ranked by container traffic. The Chinese ports increased their traffic by 80% from 2004 to 2007. The US ports increased their traffic by 10% to 20%.
We are by far the largest economy in the world and we only have 3 ports in the top 25. China has 8 ports. Asia has 17 ports in total in the top 25. I thought we were buying all their stuff, that is why their economies have been booming. The facts below put that thesis into question. Asia and Europe must be shipping a lot of stuff between themselves.
The facts are the facts. We consume. They produce. Who wins in the long term?
Source: Nomura Securities The New Spice Route