Businesses say a global shipping crisis is causing freight costs to soar and UK consumers may soon see price rises for imported goods. On top of skyrocketing shipping rates, carriers are adding congestion charges for imports to Felixstowe and Southampton, because of severe delays. The logistics industry has written to […]
International trade is the lifeblood of the world economy, but is subject to constant change from economic, political and environmental forces. Emerging economies have seen their share of total global trade rocket in recent years. China, for instance, is now responsible for 15% of all world exports. Unfinished goods, components […]
Following global COVID-19 pandemic era economic trends, bilateral U.S.-India trade in goods and services contracted from $145.9 billion in 2019 to $121.8 billion in 2020. Moreover, Indian GDP declined by eight percent (compared to 4.2 percent growth in 2019). India was the United States’ 12th largest trading partner with sales of […]
The US and EU have agreed to end a festering dispute over US steel and aluminium tariffs imposed by former president Donald Trump in 2018, removing an irritant in transatlantic relations and averting a spike in EU retaliatory tariffs, US officials have said. Commerce secretary Gina Raimondo told reporters on Saturday that […]
The UK government has begun negotiations to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), suggesting that joining this trade pact is a positive result of Brexit. CPTPP, as the name implies, is an agreement on trade (and related issues) between eleven countries which border the Pacific – Australia, Brunei, Canada, […]
Rapid technological development pushes enterprises to constantly change the use of their information systems. Human to human, human through machine, human to machine, and eventually machine to human are current challenges that enterprises face. Personal motivation to respond to change becomes a high priority. The simplest way is to determine […]
If you can walk into a supermarket and find Costa Rican bananas, Brazilian coffee, and a bottle of South African wine, you’re experiencing the impacts of international trade. International trade allows countries to expand their markets and access goods and services that otherwise may not have been available domestically. As […]
Recent decades have seen rapid growth of the world economy. This growth has been driven in part by the even faster rise in international trade. The growth in trade is in turn the result of both technological developments and concerted efforts to reduce trade barriers. Some developing countries have opened […]
By Praveen Menon and Shashwat Awasthi WELLINGTON (Reuters) – U.S. President Joe Biden and Chinese leader Xi Jinping are expected to address leaders of the Pacific Rim late on Friday amid heightened regional trade and geopolitical tensions. China set the tone for the 21 member Asia Pacific Economic Cooperation (APEC) […]
On the topic of international trade, the views of economists tend to differ from those of the general public. There are three principal differences. First, many noneconomists believe that it is more advantageous to trade with other members of one’s nation or ethnic group than with outsiders. Economists see all […]
The current analysis contributes to the literature on the real exchange rate effect of development aid by separating the real exchange rate effect of the development aid allocated to the trade sector (Aid for Trade – AfT) from the effect of other aid flows. The empirical findings show that higher […]
KUALA LUMPUR, Malaysia (AP) — President Joe Biden told leaders at the East Asia Summit on Wednesday that China’s recent actions in the Taiwan Straits are “coercive” and undermined peace and stability in the region. The comments by Biden, who participated by video in the annual meeting of 18 Asia-Pacific […]
US President Donald Trump’s on-and-off trade war against China added ominous clouds of uncertainty to the world economy in 2019, raising the prospect of a significant global economic downturn. His erratic and bombastic style made a bad situation worse, but the US-China trade war is a symptom of a problem […]
Shipping containers stacked at Kwai Tsing Container Terminal, operated by Hong Kong International Terminals Ltd. Paul Yeung/Bloomberg © 2017 BLOOMBERG FINANCE LP If you have not noticed by now, President Trump has a fetish with international commerce in merchandise. That might be understandable a century ago, when trade among countries […]
The European Commission has released its latest Trade and Investment Barriers Report (TIBR), laying out barriers to international trade across the EU. The report identifies a total of 425 measures restricting international trade in countries outside the EU – a record high – with 45 new trade barriers established in […]
