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
CaroTrans Now Offering Taiwan-New York LCL Service
Non-vessel operating common carrier (NVOCC) and ocean freight consolidator CaroTrans is now offering direct LCL (Less-than-Container Load) import services between… Read More
World Trade Center Kentucky Led Exploratory Mission to Cuba
Three days after the American flag was raised over the U.S. Embassy in Cuba after 54 years last August, the… Read More
Vancouver Port CEO Calls for the Protection of Industrial Land
Port Metro Vancouver is calling on provincial and regional leaders in Canada to embrace a shared responsibility for managing the… Read More
New Orleans Sees Container and Breakbulk Cargo Growth
The Port of New Orleans has handled more than a half million TEUs over the past 12 months, “another milestone… Read More
OPEC in the Age of Shale
A year after its decision not to cut production in the face of low prices, OPEC is feeling the pinch… Read More
Is Cuba Really Open for Business?
Cuba is open for business! At least, that may be the impression that you get after listening to recent media… Read More
Organizational Resilience is Practiced Only by a Minority of Businesses Globally
A new study released by the Economist Intelligence Unit found that resilience is a priority for businesses and indispensable for… Read More
Canada Signs International Trade Deals, But Still Hasn’t Achieved Single Internal Market
Canada can improve its domestic economy and increase its global competitiveness by eliminating interprovincial trade barriers. So finds a new… Read More
Upturn in Global Trade Projected by HSBC
Global trade volumes may have disappointed recently, but projections from HSBC show that an upturn may be just around the… Read More
U.S.-Based Airgas Acquired by France’s Air Liquide
French industrial gas producer Air Liquide has finalized a successful bid to acquire U.S. counterpart Airgas in deal valued at about $10.3… Read More
Trade Index Shows Declines in Europe-Based Lanes
The Stifel Logistics Confidence Index (LCI) continued its slide in November, falling for a sixth consecutive month—this time by 3.4… Read More
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