International Trade News
Among the top 10 fastest-growing Asian sources of U.S. imports are a number of nations, such as China, South Korea and Vietnam, that have long played a dominant role in global supply chains for both raw materials and finished products. But there are also a number of surprises on the list.
China’s slowdown is causing jitters at the highest business levels with excitement over a deal reached on the Trans-Pacific Partnership tempered by the World Bank cutting its growth forecast for Asia-Pacific on concerns over the mainland’s weakening economic performance.
U.S. containerized imports this year will surpass 20 million 20-foot-equivalent units for the first time, driven by continued strength in housing, automobiles and consumer spending, predicts JOC Senior Economist Mario O. Moreno.
In a historic policy shift, Japan’s Abe government hopes to leverage the potential of free trade agreements to revitalize its medium- and long-term economic productivity and global competitiveness.
China’s factory output contracted further in September, falling to its lowest level in more than six years as weak external demand continues to put the brakes on the country’s exports.
Taiwan may have to count on demand for new Apple products in the fourth quarter to boost exports that in August contracted for the fifth consecutive month, according to the island’s economic affairs ministry.
China will pass the U.S. and become the world’s largest apparel market by 2019, according to a forecast by market researcher Euromonitor that compared the industry performance in the world’s two largest economies.
India’s global merchandise exports tumbled 20.7 percent year-over-year in August, the ninth straight month of declines, even as the Narendra Modi-led government continues to roll out new schemes to stimulate trade and economic growth.
China’s economic indicators continue to portray a country struggling against weak domestic and external demand with growth in factory output falling short of market expectations and offering little encouragement to declining exports.
Big retailers in the U.S. are dragging their Chinese suppliers back to the table to re-negotiate order contracts and take advantage of lower manufacturing costs following Beijing’s sharp devaluation of the yuan.