Behind the wave of corporate bankruptcies in the United States: You shouldn't panic blindly
28 August 2023
Seven months before 2023, the number of corporate bankruptcies in the United States has approached a record high since 2010. According to the statistics of Standard Pur Global Market Intelligence, 64 companies filed for bankruptcy in July this year, the highest number in recent months, exceeding any month in 2021 and 2022.
Mexican tariff adjustment: impact on China and other countries
25 August 2023
1. Mexicos Tariff Adjustment Decision The President of Mexico recently signed a decision to increase the most-favored-nation tariffs on a wide range of imported products, including steel, aluminum, bamboo products, rubber, chemical products, oil, soap, paper, cardboard, ceramic products, glass, electrical equipment, musical instruments, and furniture, starting from August 16, 2023. This tariff adjustment involves...
India restricts imports of a variety of products! Opportunities and challenges facing small and medium-sized enterprises
18 August 2023
A recent risk survey of Indian export transactions released by China Export & Credit Insurance Corporation (China Export & Credit Insurance Corporation) shows that although the current credit risk level is “high,” this risk has been decreasing year by year compared to other countries. An increasing number of companies are showing great enthusiasm for trade consultations regarding the Indian market, which also indicates that the Indian market has huge export potential for Chinas small and medium-sized foreign trade enterprises. Although India...
Exports in many countries have fallen, but some countries have a recession.
15 August 2023
Global Export Situation Generally Sluggish Recently, affected by factors such as weak external demand and continued sluggishness, exports from most countries, such as Vietnam, South Korea, Brazil, and the United States, have shown a downward trend. This decline may have a lasting impact on the economic growth of these countries, and there are few signs of a recovery in global trade in the short term. Vietnams exports fell by 3.5% in July, ...
South Korea's economy faces a dilemma in 2023: exports fell in October and GDP shrank sharply.
14 August 2023
Recently, data released by the Ministry of Trade, Industry and Energy of South Korea showed that in July, South Koreas exports fell by 16.5% year-on-year to US$50.33 billion, the tenth consecutive month of decline and the largest drop since May 2020. Among them, the export value of chips, a major export product, fell by 34% year-on-year, and it has been in negative growth for 12 consecutive months. In addition, in June this year,...
Despite sanctions, Russia remains the largest economy in Europe.
9 August 2023
Despite facing external pressure and economic sanctions, Russia’s economic performance remains strong. Recent World Economic Report data show that Russia has successfully entered the world’s top five economies by the end of 2022.
Vietnam's exports continue to decline, and companies exit the market at a record high
August 8, 2023
Vietnam, a trade-reliant nation, faces concerning recent economic data. The latest figures from the Vietnam General Statistics Office reveal that a five-month consecutive decline in exports has marked the countrys longest losing streak in 14 years. This trend indicates that achieving the annual economic growth target is becoming increasingly challenging for this Southeast Asian nation. From January to July this year, impacted by...
Responding to the International Trade Relief Survey: the assistance and strategy of the Pudong International Chamber of Commerce in Shanghai
August 7, 2023
In the current international trade environment, instability and uncertainty are increasing, while unilateralism and protectionism are also on the rise. In response to this background, the Shanghai Pudong International Chamber of Commerce, under the guidance of the Shanghai Municipal Commission of Commerce, provides foreign-related legal public services to small and medium-sized enterprises to help them cope with these challenges. The current situation of trade remedy cases Since China joined...
India's export ban triggered soaring prices and emergency contract adjustments
3 August 2023
The Indian government recently announced a ban on the export of non-basmati rice to ensure domestic supply. This move quickly led to a rise in global rice prices, and rice traders in major exporting countries such as Thailand and Vietnam are urgently consulting to adjust sales contracts for nearly 500,000 tons of rice. At the same time, importing countries such as the Philippines are also considering increasing rice reserves and imports to cope with potential supply shortages. I. India...
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