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
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
International Monetary Fund Includes Chinese Renminbi in SDR Basket
The executive board of the International Monetary Fund (IMF), after completing its regular five-yearly review yesterday of the basket of… Read More
South Carolina Ports See Container Growth
The South Carolina Ports Authority has seen its fiscal year-to-date container volume increase of seven percent, with 678,033 twenty-foot equivalent… Read More
Kenya’s FSG Acquires Transit Freight Forwarding in South Africa
Frontier Services Group Limited, a transportation and logistics solutions provider in frontier markets with its operational headquarters in Nairobi, Kenya,… Read More
G20 Countries Failing to Keep Their Promises on Fighting Corruption
It is now one year since G20 governments made the commitment, in the G20 Beneficial Ownership Transparency Principles, to dismantle the… Read More
Where In The World Does China Think It Is Going?
The standard of living of the average Chinese was so poor 30 years ago that China could only grow by… Read More
India’s Blueprint for Success
Indian Prime Minister Narendra Modi recently addressed an ASEAN Business Summit. He acknowledged and praised the progress achieved by the… Read More
B2C Ecommerce in Canada is Dominated by U.S.-Based Retailers
Business-to-consumer ecommerce in Canada is dominated by U.S.-based retailers, according to a new report from the German-based market researcher yStats.com,… Read More
Amber Road Receives ISO 9001:2008 Recertification
Amber Road, a provider of Global Trade Management (GTM) solutions, announced that its proprietary process for collecting, translating, interpreting and… Read More
Obama’s Asia-Pacific Rebalance: Trade and Investment
On the occasion of President Obama’s ninth trip to Asia and the Pacific earlier this month the White House is… Read More
U.S. to Negotiate Insurance Agreement with the European Union
The United States Department of the Treasury and the Office of the U.S. Trade Representative (USTR) have announced their intention… Read More
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