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.
Geopolitical Volatility Keeps Year to Date (YTD) Container Leasing Rates Elevated
A YTD analysis of global container leasing transactions by Container xChange shows a notable uptick in average rates since the… Read More
Port of Los Angeles Volumes Surge
The Port of Los Angeles handled 713,721 twenty-foot equivalent units (TEU) in February 2016, an increase of 42 percent compared… Read More
Hitachi Rail USA Opens Miami Manufacturing Facility
Hitachi Rail USA, the American subsidiary of Hitachi Rail Italy has completed a manufacturing facility for Miami-Dade County’s Department of… Read More
European Trade Head Optimistic on TTIP Progress
Despite the heated anti-free trade rhetoric from both Republican and Democratic presidential aspirants, negotiations to forge a sweeping U.S.-European free… Read More
IRS’s Foreign Filing Requirements and Disclosure Programs: A Summary
Globalization has made an increasing number of individuals and businesses subject to foreign filings, requiring them to report foreign assets… Read More
Check Insurance to Guard Against International Property Losses
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AT&T, Porsche Partner on New Mobile Internet Service
AT&T and Porsche Cars North America, Inc. have forged a new agreement to bring equip select 2017 Porsche models with… Read More
How Countries Benefit from International Standards
The International Organization for Standardization (ISO) and the World Bank Group announced today the signing of a memorandum of understanding… Read More
Coface Iran Outlook: Sharp Turn Ahead, Drive Carefully
After five years of sanctions, Iran is finally rejoining the global community. While this return should have an effect on… Read More
Emerging Economies Drove Global Trade Volatility in 2015
After dramatically declining in the first half of 2015, global trade recovered but at a slower pace over the rest… Read More
China’s Transparency Challenges
At the recent G20 gathering in Shanghai, three Chinese leaders—Premier Li Keqiang, People’s Bank of China Governor Zhou Xiaochuan, and… Read More
U.S. Continues to Draw Chinese Investment
The potent storm of economic and political changes that rocked Chinese markets in early 2016 will continue to drive an… Read More
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