Global shipment volumes are expected to take a battering this year as Chinese demand recedes, Bank of America Merrill Lynch has said in its latest analysis. “Asian exports are past the peak,” BoA Merrill Lynch said. “We expect overseas shipments to slow through the rest of the year. “Exports and shipment of raw materials to Asia led the growth rebound and benefitted disproportionately from Chinese demand, so here too lies the greatest downside risks,” the analysis said, pointing to the slowing of export shipments to China for the fifth consecutive month in May. BoA Merrill Lynch also predicted that China’s GDP growth will decrease to 9% year on year by the end of 2010. Shipment volumes to Asia are expected to be significantly reduced as a result, it added.

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