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
Johnny Rockets Eyes International Expansion
Based on “foreign demand, appreciation for American brands and favorable economic climates,” California-based theme restaurant franchisor Johnny Rockets focuses its… Read More
TPP’s Passage Looks Unlikely in 2016
The Trans-Pacific Partnership (TPP) faces a difficult road ahead in Congress, with Senate Majority Leader Mitch McConnell, a fast track… Read More
ACE Will Soon Be Mandatory
Beginning February 28, 2016, the Automated Commercial Environment (ACE) will be the only way to submit electronic cargo release information…. Read More
Three Emerging Markets Perfect for Luxury E-Commerce
As a recent business feature in The New York Times put it, luxury retailers “believe in the primacy of the… Read More
Tough Times Continue for Caterpillar
Caterpillar Inc. has reported a 16-percent decline in its global retail sales for the three months ending in October, the… Read More
The Trans-Pacific Partnership: A Positive or Negative For Workers?
Labor provisions are among the most controversial dimensions of modern trade agreements. That’s been true in every major U.S. free… Read More
Maersk joins WTO’s Global Alliance for Trade Facilitation
The Maersk Group has joined the Global Alliance for Trade, an organization announced at the recent 10th WTO Ministerial Conference… Read More
Can European Wine Producers Adapt to Changing World Market?
Currently the three leading European wine producers—Italy, France and Spain—account for two-thirds of wine exports, in terms of value and… Read More
Sheraton Opens First Ski Resort in Japan
Sheraton Hotels & Resorts, a subsidiary of Starwood Hotels & Resorts Worldwide, has opened its new Sheraton Hokkaido Kiroro Resort,… Read More
Energy Innovation is Key Part of Paris Climate Conference
The Paris climate summit provides a foundation for countries to curb emissions through domestic climate policies that ratchet up over… Read More
California Exports Take a Dive
California’s merchandise export trade fell 5.4 percent in October from the same month last year, according to a Beacon Economics’… Read More
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