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
Study: Collaboration Technology Improves Supply Chain Efficiencies
Research released by the University of Tennessee, Knoxville, indicates that more organizations today are investing in B2Bi (business to business… Read More
UPS Enhances Services in Korea
UPS announced that is has improved services in 13 cities to better serve the growing exporting and importing needs of… Read More
Difficulties in Easing Sanctions on Myanmar
The global sanctions regime against Myanmar is one of the few adopted that can be described as an unambiguous victory… Read More
The Future of Trade is Digital
For the last 12 months the Dubai Multi Commodities Centre (DMCC) has endeavored to discover the future of global trade…. Read More
Pacific Alliance and Mercosur: Moving at Two Speeds?
Latin America’s economy is moving at two speeds, according to the Spanish bank BBVA, as the Pacific Alliance gaining ground… Read More
To Offshore or Not: Try a Price Elasticity Analysis
For very high volume products like toys, it’s usually quite apparent after a quick analysis that offshoring is a good… Read More
WeMarket Launches Global B2B Marketplace
WeMarket has launched the first business-to-business only marketplace, allowing buyers and suppliers to trade with new business partners all over… Read More
The Significance of the Trans-Pacific Partnership’s Tobacco Exception
In early February, after years of negotiations, the United States and 11 partner nations signed the Trans-Pacific Partnership (TPP), a sweeping… Read More
CargoSmart Offers SOLAS VGM Solutions Free of Charge
CargoSmart Limited, a global shipment management software solutions provider has announced that it is offering free solutions for shippers to… Read More
Mauritius, Mozambique, and Seychelles Partner to Boost Trade and Regional Integration
The World Bank has approved a total of $29.9 million for Mauritius, Mozambique and Seychelles to support their efforts to… Read More
Fourth Quarter Currency Impact for Multinationals is the Largest Seen to Date
Of a total of 1200 companies analyzed by FiREapps, 409 companies—357 in North America and 52 in Europe, or 34… Read More
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