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Qatar Trade Summit: Setting the Course to Surge the Economic Development

Qatar

Qatar Trade Summit: Setting the Course to Surge the Economic Development

With the GCC coming closer and one of the largest sports world cups hosted in the country, the summit will provide a platform to explore the investment options to yield everlasting trade relationships with the world

Qatar Trade Summit will place the event in a stronger position to bring the EMEA industry together on 9th and 10th November 2021, where the nation’s key stakeholders will showcase exclusive development made in the past few years. The summit will accentuate the parameters attributing to the country’s vision in economic diversification.


Qatar is aiming at becoming the global hub of trading and international business investments. New advancements are in progress in the space of transportation infrastructure, building smart seaports and air cargos, improved supply chain and logistics, disruption in free zone innovations and implementing various technologies in trade finance for a holistic approach. With all the developments underway, the upcoming FIFA world cup 2022 functions as a cherry on top. This biggest support will gain the traction of millions of football fans all over the globe that will promote tourism and investment opportunities. This summit aims at gathering the key stakeholders and industry evangelists under one roof to network with fellow industry experts, learn from interactive discussions and explore business opportunities” stated Parul Rana, Conference Director, Qatar Trade Summit.

Qatar possesses a competitive advantage based on its stable foundations represented in the form of globally efficient institutional frameworks, a stable economic environment and the possession of an active market for goods. Qatar’s economy is characterized by its ability to maintain its rapid growth, as it becomes one of the world’s fastest-growing economies due to the economic policies adopted by the state. During this summit, the guests will not only engage in the discussions surrounding the logistic businesses but will also discover multiple aspects country’s future models, upcoming projects and potential business investments in primary sectors such as financial services, healthcare, sports, oil & gas, shipping, airways, technology and logistics.

Based on the theme “Facilitating Qatar Economic Surge beyond 2021” the summit will bring key concerns into the spotlight: recovering from the COVID-19 pandemic; accelerating the infrastructure developments to be prepared for FIFA Worldcup 2022; rethinking logistics and supply chain to meet the increasing import/export demand and building smarter ports for increased efficiency.

Under the government support of Qatar Tourism, the summit will be hosting dignitaries such as Lim Meng Hui, CEO, Qatar Free Zones Authority, Ahmed AlObaidli – Director of Events, Qatar Tourism, Glyn Hughes, Director General, TIACA, Rami Al Haddad, Group CIO, NAS, Lori Ann LaRocco, Sr. Editor of Guests, Business News, CNBC and other market leaders across the globe who will be indulging our guest in interactive presentations and panel discussions.

Qatar Trade Summit will assist in building better trade relationships to achieve the economy’s vision 2030.

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About Organizer: © Qatar Trade Summit | Email: info@nispana.com | Qatar Contact: Tel: +974 6677 4955 | Tel: +974 33834548 | saf@apexqatar.com

UAE Tel: +971 55 283 3112 | LinkedIn: Qatar Trade Summit | twitter: @tradeqatar

china

China Will Continue to Be a Major Contributor to Global Trade Growth in 2022

Despite the twin impacts of the pandemic and the US-China trade war, economic indicators suggest that China will continue to grow rapidly through the next year and will be one of the biggest contributors to global trade growth in 2022. 

Indeed, in some ways, the current trajectory of China’s economic growth and trade surplus – both highly positive – is a return to normal. Though many feared that the pandemic and the US trade war would cause long-term, structural damage to China’s trading and economic infrastructure, it appears that this was not the case. In fact, changes to the way supply chains work may mean that China is now in a stronger position than it was at the beginning of the pandemic – a luxury that other countries can only dream of.

In this article, we’ll look at the most recent economic indications from China, explain what they mean for global trade, and see how analysts and governments in the West are responding to these signs.

Positive indications

First, let’s look at the state of the Chinese economy. Here, the news is very positive. On almost any measure that is commonly used as a proxy for consumer demand – the Purchasing Managers’ Indexes (PMI), electricity consumption, bank lending, etc. – the Chinese economy is booming. 

Though many analysts expected that consumer demand would be significantly down in 2021, in actuality, China is experiencing strong demand in both domestic and foreign markets. The Chinese government continues to invest heavily in making China a tech superpower, and so far, they are mostly succeeding. 

There are some complexities hidden behind this headline, though. One is that China has seen heavy food price inflation over the past few months driven, in part, by the US-China trade war. For many households in the country, food makes up a sizable proportion of the household budget. 

On the other hand, it seems that the pandemic has not affected the Chinese economy to anywhere near the degree that some experts expected. The transition to remote working for office workers, for instance, went more smoothly than had been predicted and occurred without a net loss to the economy. This was the case in some other countries too – remote workers contributed $1.2 trillion to the US economy alone last year, a 22% increase from 2019 – but it was especially pronounced in China.

 

Increased foreign trade

Since both domestic and foreign demand for Chinese goods remains high, we are likely to see China’s share of global trade increase over the next year. This is also a continuation of the pre-pandemic trend, which saw gradually increasing volumes of high-value finished goods being exported from China.

When it comes to global trade volumes, the picture is not completely positive, however. Though demand for Chinese goods remains high, the pandemic has imposed new restrictions and complexities on exporters. This is likely to slightly reduce trading volumes over the next year. That said, China is already a titan when it comes to global trade, and a slight reduction in growth is not likely to affect that. 

Liang Ming of the Chinese Academy of International Trade and Economic Cooperation predicted that the country’s total foreign trade will be near five and a half trillion by the end of 2021. In fact, since that prediction was made, market conditions have only grown more positive for Chinese exporters. 

Many manufacturers in the country have used enforced lockdown periods to update and improve their logistics and supply chains for the post-Covid world, and many of their trading partners have come out of the pandemic more quickly than expected. 

Calls for decoupling

All this is great news for China, and specifically for Chinese exporters. It might not be such good news, however, for the countries that buy goods from China. This includes the US and the majority of European nations, all of whom are heavy consumers of Chinese-made goods. Many analysts are alarmed at the growing dominance of China in global trade, pointing out that this could be dangerous for the world’s privacy and safety.

The numbers are certainly impressive. Official data released from the Chinese government in July 2021 showed that for the first half of the year the country’s foreign trade surged to 18.07 trillion yuan, equal to roughly $2.79 trillion USD. This was despite many industries being affected by the US trade war and despite calls in the US for the country to transition away from its dependence on China.

There are other concerns about granting China a larger portion of the global economy. Specifically, concerns about the privacy of data collected by Chinese companies remain high, as do concerns that Chinese banks are being used to launder money on behalf of Mexican and Colombian drug cartels.

All of these concerns have led some think tanks to call for a “decoupling” from the Chinese economy. This would involve selected trade embargos in order to promote domestic production of consumer items in Western economies and to give these economies time to make back some of the gap that is opening in global trade.

Conclusion

Ultimately, the trajectory that China now finds itself on – with a growing economy and a rapidly increasing trade surplus – has been the norm for much of the last two decades. And if a global pandemic and a US-directed trade war has been unable to stop the growth of the Chinese share of global trade, it’s unlikely that anything will.