Global Economy Sailed Past the Worst: Maersk CEO
The global economy should start to see improvement in the next seven or eight months, Nils Smedegaard Andersen, CEO of Danish shipping giant A.P. Moller-Maersk Group, told CNBC's "Squawk Box" on Monday.
"We're seeing the U.S. is coming bank growth wise, seeing China becoming more sort of precise in where they intend to go growth wise," the shipping executive said. "We still see good development in most of the growth markets around the world, so I think we are coming through to a phase where we can say probably within the next seven or eight months we'll see improvements."
For Maersk, it should start to see improvements in its business from the middle of the next year. "We are cautiously optimistic that we past the worst and we continue to invest heavily in growth markets," Smedegaard Andersen said.
The U.S. economic trends also are improving, despite the looming "fiscal cliff" when a host of automatic tax hikes and spending cuts kick in at the end of the year.
"You've gone through a lot of de-leveraging and the labor market is doing better, the housing market is doing better," he noted. "So for sure we're aware of the issue of the fiscal cliff but we just think the underlying fundamentals should at least help you through that period without too much of a setback."
There are also long-term opportunities as emerging markets continue to develop and start importing high-value consumer goods. (Read More: China's Export Engine Chugging, Not in Full Steam Yet.)
"We see that in China now," the Maersk CEO said. "We see good trends in the import figures, we hear from the political leaders they want to make China more of a domestic consumption country than it has been in the past."
Those advanced economies that are reasonably competitive should see a lot of opportunities to sell these types of goods in emerging markets, Smedegaard Andersen said.