If you live near the Pacific Ocean, you’ve probably seen hundreds of China COSCO’s ships in harbors.
China COSCO fell by 6.3% on Monday and another 5% last night because Goldman Sachs downgraded China’s largest shipping firm to ’sell’ from ‘neutral’ because of rising oil prices and a weak U.S. economy.
The U.S. economy is weak but not enough to slow down China COSCO’s booming business.
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