It’s easy to take for granted our accessibility to products native to or manufactured in countries on the other side of the world. International trade makes it possible to enjoy a dinner of Kobe beef from Japan, tropical fruits from India and a bottle of wine from France, without having to wait days (or weeks) for all the ingredients to arrive. From the days of the Silk Road between Europe and Asia in the 1200s, international trade has facilitated the exchange of goods and services between nations. As transportation evolved to make doing business internationally more practical, the result has been a global economy where events in one county can impact product supplies, demand and prices in countries thousand of miles away. For consumers, global trade means more business competition, which (despite tariffs and other additional costs that do not apply to domestic trade) typically results in lower prices for the products they want to purchase. It also opens up more markets where countries can sell the goods that are more abundant within their borders. The Cycle of Global Trade Relationships International trade can, over time, change the nature of relationships between two countries. One familiar example is when a poorer nation provides labor and facilities to more developed trading partners, acquiring wealth that can then be channeled into greater domestic productivity. When that happens, it could eventually result in a reversal of roles, where the product importer becomes an exporter. One sees elements of this in the trade relationship between the U.S. and China.
Maersk Infuses $600 Million into Nigeria’s Port Infrastructure, Bolstering Maritime Trade Expansion
A.P. Moller-Maersk (Maersk) has unveiled a substantial $600 million investment geared towards enhancing Nigeria’s port infrastructure, marking a pivotal step… Read More
Innovation Mercantilists Subverting Competition in Key Industries: Report
Brazil, China, Indonesia, Russia, and Vietnam were among 2017’s worst innovation mercantilism, according to a report released today by the… Read More
South Carolina Ports Authority Grows Nine Percent in 2017
The South Carolina Ports Authority reported nine percent container volume growth in 2017 with a record-setting 2.2 million twenty-foot equivalent… Read More
FMC Hears Two Stories on Detention and Fees
The Federal Maritime Commission (FMC) heard to dramatically different sets of stories this week on the issue of detention and… Read More
DHL Barometer Shows Trade Growing
The DHL Global Trade Barometer for January 2018 indicates that global trade will continue to grow within the next three months…. Read More
US: Evidence That China Colluded With North Korea to Evade Sanctions
Satellite photographs show six Chinese cargo ships engaging in trade with North Korea that is banned under UN sanctions, The… Read More
Maersk and IBM to Form Blockchain Joint Venture
A.P. Moller – Maersk and IBM announced today their intent to establish a joint venture to provide more efficient and… Read More
USTR Announces 2017 Notorious Markets List
United States Trade Representative Robert Lighthizer has announced the findings of the 2017 Special 301 Out-of-Cycle Review of Notorious Markets,… Read More
Seaway Wraps Up Navigation Season
The St. Lawrence Seaway Management Corporation (SLSMC) announced yesterday that the 2017 navigation season concluded on January 11, 2018, with… Read More
Port of Oakland to Freight Haulers: There’s Money To Clear The Air
Port of Oakland officials are making an eleventh hour financial pitch to freight haulers this month. Their message: the state… Read More
WATCH: International Trade Solution on Blockchain
International trading involves many participants all around the globe. These participants may not necessarily have the needed trust of all… Read More
2017 SUPPLY CHAIN TRENDS RECAP
INNOVATION Innovation has gone from something reserved for start-ups to a must-have for supply chains looking to adjust to digitalization… Read More
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