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NEW YORK: Starting in early 2020, a very unlikely anomaly started appearing in global trade data: China said it was selling more goods to the U.S. than the U.S. reported buying from China.
US optimism to reshore supply chains from Asia ‘overblown’, with region’s share of global exports set to rise
Biden administration is keen to loosen supply chain dependence on Asia, especially China, and has established a trade ‘strike force’ to strengthen US productionBut The Economist Intelligence Unit says firms and investors will remain deterred by North America’s lack of competitiveness compared to Asian economies
OIL prices are signalling the need for an urgent increase in production from Opec+ and US shale companies as the global economy and oil demand recover more rapidly than expected from the pandemic.
News highlights from Asean countries in the Star-AseanPlus section for Thursday (June 17)
SINGAPORE (Bloomberg): Trade shocks fuelLed by unilateral tariffs between the US and China have undone three to five years worth of growth among global value chains in affected countries, according to a UN policy brief.
TRADE shocks fueled by unilateral tariffs between the U.S. and China have undone three to five years worth of growth among global value chains in affected countries, according to a UN policy brief.
The US and EU resolve a long-standing trade irritant
JAKARTA (The Jakarta Post/ANN): The Group of Seven leaders often use sophisticated words such “multilateralism” and “science” to justify their political and military presence in the Asia-Pacific region with a single mission: To contain China and regain control of the rich territory.
CARBIS BAY, England (Reuters) -Growing tensions between Britain and the European Union threatened to overshadow the Group of Seven summit's conclusion on Sunday, with London accusing France of "offensive" remarks that Northern Ireland was not part of the United Kingdom.
CARBIS BAY, England (Reuters) -Britain will do "whatever it takes" to protect its territorial integrity in a trade dispute with the European Union, Prime Minister Boris Johnson said on Saturday, threatening emergency measures if no solution was found.