President Joe Biden’s decision to review the legacy of U.S.-China trade war started by his predecessor is now under the spotlight for reasons other than still tense relations between Washington and Beijing: inflation at home. The inflation rate hit a 40-year high in May as consumer prices surged 8.6%, the Department of Labor said on Friday. From gas […]
India bullish on Oz trade pact despite new govt
As India keeps a watch on the appointment of a new Australian trade minister, it is upbeat on the trade pact going through despite a change of government Down Under. The India-Australia Economic Cooperation and Trade Agreement (ECTA) signed last month is to be ratified by Australian parliament before it comes into force Indian officials […]
China’s trade with Belt and Road countries enjoys robust growth
China’s economic and trade ties with countries along the Belt and Road have strengthened significantly over the past decade, an official said Friday. “Despite the protracted COVID-19 pandemic and complicated international situation, the building of the Belt and Road Initiative continues to demonstrate strong resilience and vitality, injecting strong impetus into global openness and cooperation […]
China’s trade seen faltering in April as COVID curbs hit output
China’s export growth is expected to have slowed to a crawl in April as strict COVID-19 curbs hit production while imports likely extended declines, creating heavy headwinds for the world’s second-largest economy in the second quarter. The trade sector, which accounts for about a third of gross domestic product and employed 180 million people in […]
Why Chinese bankcard chips may not ease Putin’s economic pain
Cut off from international payments systems by Western-led sanctions, Russia has turned to China to obtain the microchips it needs to meet surging demand for its domestic bank cards. But while Chinese manufacturers may be able to provide a quick fix for Russia’s besieged financial institutions, they are unlikely to be able to substantially ease […]
Asia-Pacific stocks mixed as data shows China’s exports rose more than expected
Shares in Asia-Pacific were mixed on Wednesday as investors watched for market reaction to the release of Chinese trade data. New Zealand also hiked its rate by 50 basis points, its biggest increase in more than 20 years. Mainland China’s Shanghai composite slipped 0.82%, closing at 3,186.82 while the Shenzhen component dropped 1.601% to 11,568.17. Hong Kong’s Hang Seng index rose […]
The numbers behind India and Australia’s $100-billion trade target
India and Australia signed an interim free trade agreement on April 2. The India-Australia Economic Cooperation and Trade Agreement “provides zero duty exports to 100% tariff lines from India to the Australian market, benefiting labour-intensive sectors besides providing greater access to services space through liberalised visa norms for students and professionals, including quota for Indian […]
Amid Western Sanctions, India Explores Rupee-Ruble Mechanism for Trade with Russia
India is considering establishing a payment mechanism in local currencies to allow it to continue trade with Russia, which has been hit with Western sanctions in response to its invasion of Ukraine. New Delhi is proceeding with purchases of Russian crude at discounted prices despite pressure from the United States. The state-run Indian Oil Corp. […]
What Does Indian Trade Stand to Lose and Gain from Russia-Ukraine Conflict?
The Russian invasion of Ukraine and subsequent sanctions slapped by the West on Moscow have played out in different ways for Indian trade.
India Insight: Digital diplomacy builds bridges
New Delhi’s digital diplomacy is making inroads. When India rolled out its online payments infrastructure to power real-time money transfers six years ago, it unwittingly laid the foundation for a technology-driven Belt and Road initiative. It gives Prime Minister Narendra Modi a more cost-efficient answer to China’s multi-trillion-dollar splurge on ports and pipelines in the […]