Labor disputes at US West Coast ports escalate, affecting trade with Asia
13 June 2023
The US transportation industry is facing another severe test. It is reported that due to labor disputes, the Port of Seattle on the US West Coast completely stopped port cargo operations on June 10. This incident may have a significant impact on trade between Asia and the United States. The Port of Seattle is one of the largest seaports in North America and is critical to the US supply chain, accounting for 12% of the US GDP...
The widening of the US trade deficit may affect economic growth in the second quarter
9 June 2023
Recently, the US trade deficit in April widened to its highest level in six months, mainly due to increased imports and decreased exports. If this trend continues, it may lead to a negative impact of trade on economic growth in the second quarter. Data from the US Department of Commerce shows that the US trade deficit in goods and services in April increased by 23.0% to approximately US$74.6 billion...
Deutsche Bank warns: A wave of corporate defaults is coming
8 June 2023
Deutsche Bank recently released its annual default research report, which pointed out that a wave of debt defaults by US and European companies is imminent due to aggressive interest rate hikes over the past year. The report shows that the credit boom of the past two decades has allowed the market to enjoy ultra-low interest rates and stable economic growth, and financial institutions have also increased the scale of lending during that period. However, the current gradual...
Whirlwind of dollar appreciation: Major changes in the pattern of the global foreign exchange market
7 June 2023
In todays globalized world, fluctuations in the currency market have a profound impact on business operations. Recently, the performance of the US dollar in the global foreign exchange market has attracted widespread attention. The following is an in-depth analysis of the US dollars appreciation surge: I. The US Dollars Appreciation Surge Recently, the US dollar has shown a strong upward trend in the ranking of major global currencies. In the past month...
The growth of German exports is surprising, especially the demand in the Chinese market
7 June 2023
Although the weak global economy, geopolitical tensions, and high inflation have put pressure on Germanys overseas business, the latest data released by the German Federal Statistical Office shows that in April 2023, Germanys exports unexpectedly increased by 1.2%, especially with a significant increase in demand from the Chinese market. These data show that although Germanys current economic situation is not ideal, its exports...
China will further open up its market and attract more high-quality foreign investment
6 June 2023
Zhou Jing, director of the Department of Market System Construction of the Ministry of Commerce, said recently that China will promote high-level opening up to the outside world in accordance with the requirements of the Central Economic Work Conference of the Communist Party of China, relying on Chinas super-large-scale market advantages, attract global resource elements with domestic cycle, both to leave high-quality foreign capital, but also to attract more high-quality foreign capital, improve the quality and water of trade and investment cooperation.
Global corporate bankruptcy and currency risk alert: Countries face challenges
6 June 2023
According to the latest report released by the German credit agency Credit Reform, in 2022 140,000 companies went bankrupt in 14 Western European countries, as well as Norway, Switzerland and the UK. This figure grew by 24.2% compared to the previous year. The largest increase in the number of bankrupt companies was in Austria, which grew by 59.7% compared to the previous year.
South Korea's exports fall for eighth straight month in May, but narrowing trade deficit shows signs of recovery
5 June 2023
South Koreas exports fell for the eighth consecutive month in May, due to continued weak global demand for memory chips. However, the decline was less severe than in April. According to data from the South Korean Ministry of Trade, Industry and Energy, overseas exports in May fell 15.2% year-on-year to 52.24 billion US dollars, better than economists expected 16.3% decline. South...
Global sanctions on Russia: How can Chinese companies find opportunities in the new market environment?
2 June 2023
At the recent G7 summit in Hiroshima, Japan, leaders announced new economic sanctions against Russia, targeting mainly its military-industrial potential and exports of important goods, while targeting individuals and entities accused of providing Russia with front-line transportation goods.
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