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.
UNCTAD: Global Trade Expected to Rebound in 2024 Amid Geopolitical Uncertainties
The United Nations Conference on Trade and Development (UNCTAD) forecasts a rebound in global trade, expecting it to hover around… Read More
Asia Pacific Airlines Recorded Passenger and Cargo Growth in 2015
Preliminary traffic figures for 2015 released by the Association of Asia Pacific Airlines (AAPA) showed growth in both international air… Read More
Council on Foreign Relations Evaluates U.S. Economic Competitiveness
In his recent State of the Union address, President Barack Obama said, “Anyone claiming that America’s economy is in decline… Read More
NAM Urges Senators to Approve Trade Facilitation Measure
The National Association of Manufacturers (NAM) is urging senators to support the conference report to H.R. 644, Trade Facilitation and… Read More
Fully Covered
It sounds like an opening scene of Miami Vice: A shipment of televisions worth several hundred thousand dollars waits as… Read More
McDonald’s Faces a Second EU Investigation
Global fast food giant McDonald’s has been targeted by the European Commission on complaints that the company forces franchisees to… Read More
Qatar Airways Cargo Announces New Freighter Routes to Prague, Budapest, and Ho Chi Minh City
Qatar Airways Cargo will launch three new freighter routes to Budapest, Prague, and Ho Chi Minh City in March 2016…. Read More
Pratt & Whitney Partners with Dutch Firm on Military Engine Program
Pratt & Whitney has awarded a contract to KMWE / DutchAero to produce precision components the F135 engines used in… Read More
AAL Pulling its Weight in Venezuela
AAL has successfully delivered its first shipments of heavy lift cargo, destined for the Petroleos de Venezuela SA (PDVSA) Puerto… Read More
Ricoh Acquires California-Based Garment Printer Maker
Japan’s Ricoh Co. has completed a strategic agreement to acquire California-headquartered AnaJet, a manufacturer of digital direct-to-garment (DTG) printers. Founded… Read More
Morocco Becomes the Second African Country to Host a Wholly-Owned UPS Entity
UPS is strengthening its presence in the Kingdom of Morocco by investing 16 million Moroccan Dirhams ($1.6 million) in UPS… Read More
Emerging Technology Enables Customer Service In 25 Languages Using Same Staff
Translate Your World International (Tywi), developers of communication software, released its newest software, Tywi Customer Service, which enables any business… Read More
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