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Beijing’s strategy to boost trade relations with countries in the Global South to diversify away from closing Western markets has taken a hit with Indonesia’s announced intention to impose a 100-200% tariff on China’s labor-intensive goods.
It’s a widely accepted notion among economists that cultural differences can pose a significant barrier to trade. The larger the cultural gap between two countries – judging by differences in language, customs, values and business norms – the more challenging and costly trade relations become. This is a recurring theme in research.
China reported higher-than-expected export growth in May of 11.2% in RMB terms and 7.6% in terms of US dollars year-on-year, indicating that the country is like to meet the government’s 5% growth target for 2024.
TOKYO — It’s hard to miss the time-warp dynamic surrounding the US-China trade war as it intensifies in real-time.
As Joe Biden throws down the gauntlet in his bid to defeat Donald Trump, the US president risks repeating one of his predecessor’s biggest blunders.
There are many reasons to hope that Joe Biden exploits a strong economy and anger over the end of abortion rights to beat Donald Trump on November 5 for a second time in the US presidential election.