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This is the current state of global trade | World Economic Forum International trade is the lifeblood of the world economy, but is subject to constant change from economic, political and environmental forces Emerging economies have seen their share of total global trade rocket in recent years China, for instance, is now responsible for 15% of all world exports
WTO sounds alarm on trade risks and other trade news | World Economic Forum Global trade forecast: 0 2% decline in merchandise trade, with North American exports down 12 6% Worst-case scenario: Decline could reach 1 5% if tensions escalate Services trade growth: Revised down to 4 0% from earlier expectations Impact on least-developed countries: Vulnerable economies hit hardest by the trade slowdown
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What to expect from the US-China trade talks? - The World Economic Forum Practically, the United States is desperate to rebalance its massive trade deficit with China, whereas China believes that two-way trade is largely balanced if services trade is considered The outcome could be a “managed trade” agreement in which China agrees to increase its purchases of US goods
5 top global trade stories of 2024 - The World Economic Forum Other significant new deals include a free trade deal between Thailand and EFTA states – Iceland, Liechtenstein, Norway and Switzerland – as well as the Agreement on Climate Change, Trade and Sustainability (ACCTS), which is the first legally binding trade agreement between Costa Rica, Iceland, New Zealand and Switzerland that primarily
The UK and India just signed a historic free trade deal. Heres what . . . The UK and India have signed a free trade deal which will 'further strengthen the UK-India strategic partnership' The agreement will cut levies on 90% of British products sold in the country, including whisky, food and electrical devices The new agreement is expected to increase bilateral trade between the countries by $34 billion a year from
Discover this weeks must-read trade stories | World Economic Forum Los Angeles is the US's largest port Following the trade agreement that cuts US tariffs on Chinese goods from 145% to 30%, there was a recent surge in container ship bookings from China Yet a long-term drop in shipping is still a concern for the port The following video explores the impact:
How innovative fintech is helping small business in cross-border trade . . . The cross-border payments landscape is transforming rapidly, occurring alongside increasing economic uncertainty and market volatility As global trade dynamics shift and economic conditions become more unpredictable, financial markets grow increasingly volatile, potentially raising the risk of fragmentation in the financial system This could
RCEP trade agreement and the future of multilateralism The future of trade is under threat from rising protectionism, and prevailing narratives about the end of globalization The RCEP trade agreement is a beacon for the future of multilateralism – led by regional middle powers like ASEAN It underscores the importance of regional cooperation in an increasingly interconnected and disrupted world