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Shanghai's Yangshan Port. Photo: Qian Cheng/VCG via Getty

If you needed any further evidence of where global business is going, take a look at cargo traffic in the world's ports:

By the numbers: 7 of the top-10 world's busiest ports are in China, led by Shanghai, according to 2016 data from the World Shipping Council (h/t World Economic Forum and Visual Capitalist).

  • Rounding out the top 10 are one each in Singapore, South Korea and the United Arab Emirates.
  • The West does not arise until No. 12 (Rotterdam, Netherlands). The U.S. first crops up at No. 18 (Los Angeles).

The only other U.S. ports in the top 50 are Long Beach (22) NY/New Jersey (23), Savannah (42) and Seattle (43). Even if you add all five of those U.S. ports, they fall short of both of the top two (Shanghai and Singapore).

Go deeper

Scoop: Leaked Ukraine memo reveals scope of Russia's aggression

Russian President Vladimir Putin visits a military exposition in Sevastopol, Crimea, in Jan. 2020. Photo: Mikhail Svetlov/Getty Images

Russia has been holding last-minute military exercises near commercial shipping lanes in the Black Sea that threaten to strangle Ukraine's economy, according to an internal document from Ukraine's ministry of defense reviewed by Axios.

Why it matters: With the eyes of the world on the massive buildup of troops in eastern Ukraine, the leaked memo shows Russian forces escalating their presence on all sides of the Ukrainian border.

Read: Former Vice President Walter Mondale's last message

Photo courtesy of Mondale.

Former Vice President Walter Mondale wrote a farewell letter to his staff, sent upon his death on Monday, thanking them for years working together.

Dear Team,

Well my time has come. I am eager to rejoin Joan and Eleanor. Before I Go I wanted to let you know how much you mean to me. Never has a public servant had a better group of people working at their side!

Together we have accomplished so much and I know you will keep up the good fight.

Joe in the White House certainly helps.

I always knew it would be okay if I arrived some place and was greeted by one of you!

My best to all of you!

Fritz

Former Vice President Walter Mondale dies at 93

Walter Mondale, left, with former President Jimmy Carter in Jan. 2018 at the McNamara Alumni Center on the University of Minnesota's campus in Minneapolis. Photo: Anthony Souffle/Star Tribune via Getty Images

Walter Mondale, who transformed the role of U.S. vice president while serving under Jimmy Carter and was the Democratic nominee for president in 1984, died Monday at 93, according to a family spokesperson.

The big picture: President Biden, who was mentored by Mondale through the years, said in 2015 that the former vice president gave him a "roadmap" to successfully take on the job.

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