Adam Sabbagh: The US Economy Faces its Crisis with the Logistical Services Weapon
The US economy faces its crisis with the logistical services weapon. Amid the optimism sweeping the various sectors of the US economy, especially the shipping and logistics companies, which are the backbone of international trade during the spread of the Corona pandemic, the primary reliance on it was a positive message for it and an indication of the high rates of profits and their growth.
The World Council for Shipping estimates that the proportion of goods shipped by sea is about 90 percent of the total goods shipped globally. Nearly 70 percent of those goods are shipped in containers, with a total value of about four trillion US dollars annually, and is expected to reach The total revenue of the shipping industry is $ 210 billion by 2021.
Adam Sabbagh, CEO of The Pharaon Logistics Services in New York, believes that shipping companies in times of crisis seek to find new sources and methods to ensure the continuity of the flow of goods, especially the basic ones, noting that the measures taken by the United States to close or limit the movement of freight did not have any effect on the continuity of The arrival of essential goods to consumers.
Sabbagh considers that the logistics sector in the world, especially in the United States, is one of the most vital sectors, and its importance increases in times of emergency, as is the case during the spread of the Corona pandemic. Adam Sabbagh confirms that the Pharaon Company plays an important role in this difficult time in the world in facing the challenge, which guarantees the continuation of work for hundreds of thousands of companies and small institutions that depend heavily on logistics services.
With the end of each year, most economic sectors wonder about the challenges they will face during the next year, and these questions usually address the profit and loss expectations that they may be exposed to. The logistics services companies have not deviated much from this pattern.
The Pharaon Group is a multi-faceted holding that provides a comprehensive range of diversified solutions in the fields of oil and gas, shipping and healthcare across continents of the world.
The group has always focused on expanding its business and enabling its global position. Adam Sabbagh believes that the United States represents great power. It is a unique case in its economic, military and technological strength, the size of its influence and its influence on the international scene, which has not been achieved by the power of others, but like any superpower witnesses a decline in economic levels for several reasons.
Sabbagh asserts that the United States is facing a real test that challenges any superpower that wants to remain in control, namely delaying access to the state of “imperial slack,” meaning that the United States must face an ongoing reality that the total American interests and commitments it inherited from its control of the leadership of the global system throughout The period before the Corona pandemic is today greater than the state’s ability to defend and spend on it all at the same time.
And that the United States must overcome this crisis by its unique ability that distinguishes it from other previous powers, due to its free societies, leaders capable of predicting and preparing crises, in addition to using technological capacity in facing all forms of crises.
In conclusion, Adam Sabbagh says that the Corona pandemic remains a major challenge to the United States, which seeks to overcome the crisis locally and exports its response globally. The pandemic and the crises it caused, if not quickly recovered, may disturb the delicate balance of economic growth, such as redistributing budgets in the general budget in favor of health care and internal services to confront the Kurna pandemic at the expense of military spending, which will negatively affect the American strategic foreign influence, causing a geopolitical vacuum in vital areas. For the United States, which will affect the shape of the global balance of power in the medium and long terms, providing the opportunity for other global powers to fill the geopolitical vacuum internationally and form a new balance of power, thus declining the status of the United States.
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