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.
Shippers Frustrated as Spot rates Rise With Demand
As demand surges on the Asia-European trades, carriers and forwarders find themselves grappling with escalating spot rates, leading to frustrations… Read More
Global Collaboration – A New Outsourcing Strategy
To build a sustainable competitive advantage, leading companies are now using an advanced form of outsourcing dubbed global collaboration. For… Read More
WATCH: What’s Going on in the South China Sea?
China’s activities in the South China Sea, which includes building up artificial islands and developing military facilities on them, has… Read More
WCO Adopts Trade Facilitation Agreement
Recently, the World Customs Organization (WCO) and its members agreed to implement the Trade Facilitation Agreement. Will this simplify crossborder… Read More
Trump’s Misstatements on Trade at Merkel Press Conference
While the political press has been lamenting President Donald Trump’s doubling down on his allegations of being surveilled by his… Read More
WATCH: What is Logistics Management?
What is logistics? What is logistics management? What is logistics in supply chain management? Logistics in supply chain management is… Read More
WATCH: The Future of EU Trade Policy
In her speech at the Bruegel Institute, European Trade Commissioner Cecilia Malmström set out the EU’s trade agenda for 2017… Read More
Trade Policy Under Trump: A Look Ahead
Dentons, the global law firm, recently released its Global Regulatory Trends to Watch in 2017. In this five-part series, we… Read More
WATCH: US Participation in Global Trade Agreements
Although trade agreements and regulations have often been a source of domestic controversy, they have seldom been as hotly debated… Read More
Trump Unlikely To Use Section 301 Against China
With the advent of Trump administration, the long standing rhetoric surrounding US-China trade disputes has not only become more ominous… Read More
WATCH – Trump: US “Must Protect Itself From the Outside”
Speaking at the American Center for Mobility in Detroit yesterday, President Donald Trump reiterated his protectionist economic philosophy. After his… Read More
Trump Policies Would Torpedo US Growth
With the Trump administration sending its budget blueprint to Congress that would slash trillions of dollars in non-military federal spending,… Read More
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