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How group psychology is driving global political turmoil
Thursday 13th of June 2019
In the last few decades, the political systems of advanced democracies have witnessed momentous changes. Nationalism and populism have gained support almost everywhere, often at the expense of mainstream parties. New dimensions of conflict have emerged – over immigration, globalisation, and civil rights – in place of the classical divide over redistribution (see Figure 1).
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India and Bangladesh are reviving long-neglected trade routes: their rivers
Tuesday 11th of June 2019
Water is essential to life and good health. It’s also vital to create jobs, propel economies forward, and boost social development.
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Blue bonds: What they are, and how they can help the oceans
Thursday 6th of June 2019
Seventy-one percent of the Earth’s surface is ocean, and billions of people depend on the oceans for their livelihoods. Maritime transport remains an essential part of international trade as over 90% is carried by the seas, according to the United Nation’s (UN) International Maritime Organization.
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Christine Lagarde: How to help, not hinder global growth
Thursday 6th of June 2019
As the G-20 finance ministers and central bank governors gather this week in Fukuoka, they can take inspiration from their host city. Known as Japan’s “startup city,” Fukuoka has flourished in recent decades by embracing trade, innovation, and openness.
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China rare earth prices soar on their potential role in trade war
Thursday 6th of June 2019
Chinese rare earth prices are set to climb further beyond multi-year highs hit following a flurry of state media reports that Beijing could weaponize its supply-dominance of the prized minerals in its trade war with Washington.
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Who gains when the US and China fight over trade?
Tuesday 4th of June 2019
China and the United States are at a trade stand-off after both countries have implemented hundreds of billions of dollars in tariffs on each other’s goods over the past year.
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The US will impose tariffs on Mexico, says President Trump
Friday 31st of May 2019
U.S. President Donald Trump, responding to a surge of illegal immigrants across the southern border, vowed on Thursday to impose a tariff on all goods coming from Mexico, starting at 5% and ratcheting much higher until the flow of people ceases.
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Planes can now fly for 21 hours non-stop. But are people ready?
Tuesday 28th of May 2019
At 21 hours and covering almost 17,000 kilometers, a direct flight from Sydney to London would be the longest in the world.
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More than 30 years of US trade with China, in one chart
Tuesday 28th of May 2019
The ongoing US-China trade dispute has put into sharp focus one of the world’s most consequential trade relationships – and the impact any disruption can have on the global economy.
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Here’s how a trade war between the US and China could reshape the global order
Tuesday 28th of May 2019
US-China trade tensions have negatively affected consumers as well as many producers in both countries. The tariffs have reduced trade between the US and China, but the bilateral trade deficit remains broadly unchanged. While the impact on global growth is relatively modest at this time, the latest escalation could significantly dent business and financial market sentiment, disrupt global supply chains, and jeopardize the projected recovery in global growth in 2019.
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What could the trade war do to Japan’s economy?
Tuesday 21st of May 2019
Bank of Japan Governor Haruhiko Kuroda on Tuesday warned that escalating U.S.-China trade tensions could hurt business sentiment and inflict widespread damage on the economy.
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We must help developing countries escape commodity dependence
Friday 17th of May 2019
Commodities are the basic products that underpin both our material progress and our everyday lives. – from the cereals at your table, the cotton of your shirt or the copper and lithium in your smartphone, to the oil and gas that propels your vehicle.
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What do Renaissance paintings tell us about globalisation
Friday 17th of May 2019
For many, the Renaissance was the revival or “rebirth” of Western classical antiquity, associated with great artists painting the Sistine Chapel and the invention of the printing press in Europe. These local, European phenomena seem rather parochial compared to today’s world, where a hashtag on Instagram connects pictures across the world in an instant and aeroplanes take off every second from airports around the globe. Globalisation means that we can purchase a Starbucks coffee almost anywhere in the world and an enormous amount of goods available in Europe are made in China.
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3 ways to use digital identity systems in global supply chains
Tuesday 14th of May 2019
Supply chains span national borders, involving numerous organizations and transactions. For each business interaction, organizations need the ability to verify the identity of all potential partners. Is the potential partner who they say they are? Do they have the credentials they say they have? In an increasingly digital world, digital identities – unique representations of legal identities engaged in online transactions – and the trustworthy verification of these digital identities are critical.
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Explained, the economic ties between Europe and Asia
Tuesday 14th of May 2019
Asia and Europe are now leading trade partners, with $1.5 trillion of annual merchandise trade, overtaking each continent’s trade with the United States. A new study gathering an unprecedented range of bilateral data between country pairs pinpoints the economic, social and political ties between 51 Asian and European countries.
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Global Trade Identity can be the cornerstone of paperless trade
Monday 13th of May 2019
The digital business era requires organizations involved in global trade to rethink many aspects of their business models. Several enterprises in global supply chains have moved their digitalization focus outward toward the business ecosystems they are part of. Global supply chains are therefore becoming increasingly digital, with interactions happening among several different types of private and public participants who in many cases do not know/trust each other beforehand, but need to do business together for the global trade to work.
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9 categories of consumer products impacted by new US tariffs
Monday 13th of May 2019
A range of consumer products made in China and sold in the United States are affected by Friday’s new set of tariffs imposed by U.S. President Donald Trump, including in categories such as vacuum cleaners, handbags and lighting fixtures.
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Why capitalism needs populism
Friday 10th of May 2019
Globalization, digital technologies, and other factors have allowed competitive US corporations to achieve market dominance. If the past is any guide, it is only right that these “superstar” firms should now be challenged by grassroots political movements protesting against an unholy alliance of private-sector and government elites.
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Seven key misconceptions about economic sanctions
Thursday 9th of May 2019
The sanctions imposed on Iran by US President Donald Trump have begun to bite the country’s economy hard. Inflation, seemingly defeated by President Hassan Rouhani, has returned with a vengeance, hitting 31% in 2018. According to the International Monetary Fund, the economy is poised to shrink by 6% this year, and inflation could reach 37%. Many industries are experiencing severe difficulties, and unemployment is mounting. Aiming to cut Iranian oil exports to zero, Trump is threatening to sanction countries – like China, India, and Japan – that continue to buy Iranian oil.
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Africa is creating one of the world’s largest single markets. What does this mean for entrepreneurs?
Thursday 2nd of May 2019
The Africa Continental Free Trade Area (AfCFTA) is set to launch on 30th May. If every African country joins, it’s expected to be one of the world’s largest single markets, accounting for $4 trillion in spending and investment across the 54 countries.
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Why multilateral trade policies are the most efficient way to economic growth
Thursday 2nd of May 2019
Traditional arguments in favour of multilateral agreements are based on the theoretical premise that the free market equilibrium is efficient (Irwin 1996). This proposition has a long tradition and was originally based on the assumption that markets are perfectly competitive so that firms do not have market power and their relative prices perfectly map their relative marginal costs of production, which is a key requirement for market allocative efficiency.
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World trade volumes fall for first time since financial crisis
Tuesday 30th of April 2019
World trade volumes are falling for the first time since the end of the financial crisis in a sign the global economy is only one more major shock away from recession.
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To beat Starbucks, Luckin Coffee plans to open a store in China every 3.5 hours
Monday 29th of April 2019
Known endearingly in China as the Little Blue Cup, Luckin Coffee is no small fry.
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Chart of the day: The EU’s trading partners
Monday 29th of April 2019
One-third of all EU trade last year was with the US and China. Combined, EU countries conducted €674 bn ($750 bn) worth of trade with the US in 2018. Import and export deals with China totalled €605 bn ($673 bn). That’s 17.1% and 15.4% respectively of all trading done with countries outside the EU – far ahead of Switzerland (6.7%), Russia (6.4%), Turkey (3.9%) or Japan (3.4%).
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Trade, tariffs and politics: Evidence from the US, EU and China
Monday 29th of April 2019
Trade wars, as an instrument of trade and foreign policy, have returned to mainstream politics with the presidency of Donald Trump. Changes to US trade policy under a potential Trump administration were already allured to during the presidential campaign. Yet, it was only in March 2018 that various simmering disputes escalated into a full-scale trade conflict, most prominently involving China, Canada, Mexico, the EU, India, and Turkey. Following the announcement of tariffs on aluminium and steel, together with tariffs on Chinese imports, President Trump suggested that “[t]rade wars are good, and easy to win”.1