Expected weakness in global trade in the second half of the year: possible risks to the supply chain
10 July 2023
At the end of the first half of the year, international organizations such as the United Nations Conference on Trade and Development (UNCTAD) and the World Trade Organization (WTO) successively released reports to analyze the global trade situation in the second half of 2023. Although the global supply chain is gradually returning to normal, shortages and delivery delays of non - essential consumer goods have improved, and the volume and value of global merchandise trade in the first quarter also rebounded...
El Ni?o threatens global commodity supply
10 July 2023
The El Ni?o phenomenon is a global climate phenomenon that can lead to climate change worldwide. This year, the emergence of the El Ni?o phenomenon may further reduce precipitation in the next two years, posing a threat to the supply of important global commodities. The production of rice and sugar in Thailand may decrease. Thailand is one of the worlds most important exporters of rice and sugar. Due to...
South Koreas trade deficit phenomenon: impact and analysis of the trade deficit with China
7 July 2023
South Korea, as a wind trend for the Asian economy, has recently improved its trade data trend to become the focus of the market, however, the latest data show that South Koreas exports fell by 6% in June this year, which is the smallest contraction this year. It is worth noting that from January to May this year, South Koreas trade deficit to China reached $118 billion.
Factors behind the recent rebound of the RMB exchange rate
6 July 2023
Recently, the RMB exchange rate showed a strong rebound momentum. On July 4, 2023, the shore RMB-USD closing price was 7,2161, while the offshore RMB-USD rebounded by 7,22 points and rose by 300 points within the day. The three-day rise in a row made the average price of the RMB-USD on July 5 rise by 78 basis points, on July 7, 1968.
The impact of the EU carbon border adjustment mechanism and the coping strategies of Chinese exporters
5 July 2023
The European Union’s Carbon Border Regulation Mechanism (CBAM), also known as the Carbon Border Tax or Carbon Tariff, is a tax imposed by the EU on the carbon emissions of some imported goods.
Vietnams electronics manufacturing industry is in trouble due to shrinking global demand and shortage of parts
5 July 2023
The shockwaves of declining global electronics demand are having profound impacts on Vietnams tech manufacturing sector. According to tech news website Rest of World, in recent years, major international electronics companies like Samsung and Apple have employed tens of thousands of workers in Vietnamese factories. However, with the decrease in global electronics demand and the procurement of components...
My country has completed the Information Technology Agreement and the tariffs on 62 tax items have been reduced to zero.
4 July 2023
Starting July 1, China began implementing the eighth step of tariff reductions on products under the expanded Information Technology Agreement (ITA), marking the completion of all tariff reduction commitments under this agreement. This move has triggered significant transformations in the information technology industry, bringing notable synergistic effects to global economic growth and innovative development.
New global foreign trade regulations in July 2023: Trade changes between China and the world
3 July 2023
In todays globalized world, trade relations between countries are becoming increasingly close. However, with adjustments in national economic policies, the introduction of new foreign trade regulations continues to influence the global trade landscape. This article will detail the content of global foreign trade regulations in July, 2023, and how these new regulations affect trade relations between China and the world.
Major North American ports to hold a major strike starting July 1, 2023, which may affect the global supply chain
3 July 2023
On June 28, 2023, the International Longshore and Warehouse Union Canada (ILWU Canada) issued a 72-hour strike notice to the British Columbia Maritime Employers Association (BCMEA), announcing a strike starting at 8:00 AM on July 1, 2023. This strike will affect over 30 ports in British Columbia involving approximately 7,400 dockworkers and 49 employers and operators, including...
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