Intra-Asian Liner Companies May Set Own Regulations
Asian shipping companies see no reason why Washington or Brussels should dictate rules for intra-Asian services or for routes to South Africa or South America. In fact, many Asian shipping companies believe that they should form a group that establishes rates and regulations for trade lanes that have no economic impact on Europe or the United States.
While the U.S. basically supports the idea of shipping conferences, the E.U. does not.
The E.U. sees shipping conferences as cartels, and would like to see these companies impacted by the anti-cartel laws. The Japanese are not very enthusiastic about the prospects.
As the inter-Asian, African, and South American trades grow, the mechanisms for pricing and competition dictated by North America and Europe seem utterly ridiculous, and Asia may do the unthinkable by establishing its own governing body.