Page 13 - Global Trade
Stuck cargo ship in Egypt's Suez Canal imperils shipping worldwide
A skyscraper-sized cargo ship wedged across Egypt's Suez Canal further imperiled global shipping as at least 150 other vessels needing to pass through idled waiting for the obstruction to clear
 "Stuck cargo ship in Egypt's Suez Canal imperils shipping worldwide")
Suez Canal snarled with giant ship stuck sideways in top trade artery
At 400 meters in length, the vessel that was built in Japan about three years ago is longer than the Eiffel Tower laid on its side
 "Suez Canal snarled with giant ship stuck sideways in top trade artery")
US stimulus effect to be felt beyond its shores
The package takes pandemic-related spending in the US to over $6 trillion since the start of the crisis.
Biz leaders see trade recovering from Covid faster than 2008 crisis: Study
Firms reallocating a third of their revenue from the first half of 2020 to re-modelling their supply chains
 "Biz leaders see trade recovering from Covid faster than 2008 crisis: Study")
Global cargo logjam deepens, delaying goods bound for retailers, automakers
A surge in demand for furniture, exercise equipment and other goods for shoppers sheltering at home in a worsening pandemic has upended normal trade flows
 "Global cargo logjam deepens, delaying goods bound for retailers, automakers")
India's exports fell 9% in Nov, in second straight month of decline
Outbound shipments in November this year stood at $23.43 billion, against $25.77 billion in the same month a year earlier
 "India's exports fell 9% in Nov, in second straight month of decline")
Global trade shows signs of rebound from Covid-19, recovery uncertain: WTO
Trade growth in Covid-19 related products was strong in June and July, showing the global economy's ability to help governments obtain supplies
 "Global trade shows signs of rebound from Covid-19, recovery uncertain: WTO")
World commercial services trade shows resilience despite momentum loss: WTO
4.3 per cent dip in services trade in first quarter of 2020 was not as much as earlier anticipated
 "World commercial services trade shows resilience despite momentum loss: WTO")
IMF says Covid-19 economic crisis 'far from over', more support needed
The IMF has provided emergency funding to 75 countries, including 47 low-income countries, and said it was ready to provide further support to a wider range of middle-income countries
 "IMF says Covid-19 economic crisis 'far from over', more support needed")
Global services trade affected by Covid-induced travel curbs: WTO report
With the limited exception of individuals working in "essential" sectors, all such trade that relies on the cross-border movement of individuals has effectively come to a halt
 "Global services trade affected by Covid-induced travel curbs: WTO report")
The market as weapon: What China has long exploited India has rarely used
Opening up India's market to neighbouring countries can be as strategic as access denial to others. The game should be played both ways, even if it upsets domestic business lobbies, writes T N Ninan
Industry wants open and facilitative import environment to boost exports
The CII asks for policies to increase the country's share in the global merchandise trade by 2025 to 5 per cent from 1.7 per cent and in services export to 7 per cent from 3.5 per ent.
 "Industry wants open and facilitative import environment to boost exports")
Race for WTO chief heats up: India spells out terms for its support
The country will back candidates in favour of having a global trade facilitation pact for services, ensuring food security in poorer nations, and committing to talks on developmental issues
 "Race for WTO chief heats up: India spells out terms for its support")
China industrial profits rise 11.5% in June, signal economic recovery
After a record slump early in the year, China's economy rebounded more than expected in the second quarter
 "China industrial profits rise 11.5% in June, signal economic recovery")
US, China clash to impair global trade vital for India's reopening: Rajan
Leading economist and former RBI governor warns of 'enormous bankruptcies' in US and Europe.
 "US, China clash to impair global trade vital for India's reopening: Rajan")
Global trade volume estimated to contract 18.5% in Q2 of 2020: WTO
International trade volume shrank 3% in Q1, annual forecast close to 13% fall
Global trade to dip 27% in second quarter after April 'nosedive': UNCTAD
China appeared to have 'fared better' than other major economies, with exports growing by 3% in April
The economic crisis and India's role in post-coronavirus multilateralism
The world gross domestic product is expected to contract by 3%, international trade may decline by up to 32%, and 49 million people could slip into extreme poverty
 "The economic crisis and India's role in post-coronavirus multilateralism")
Container vessel idling at 1-yr high as Covid-19 pandemic sinks sailing
The highest sailing cancellation since the Covid-19 outbreak was in February, registering a spike of 105 cancellations across Trans-Pacific, Asia-Europe, and the Mediterranean trades.
 "Container vessel idling at 1-yr high as Covid-19 pandemic sinks sailing")
Global merchandise trade volumes likely to nosedive in H1, says WTO
The global body's goods trade barometer (GTB) on Wednesday hinted at further weakening of trade volumes in H2CY20.
 "Global merchandise trade volumes likely to nosedive in H1, says WTO")
