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 […]
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 […]
India and Russia may keep ruble out of the proposed rupee-ruble trade
India and Russia may keep the ruble out of the proposed rupee-ruble trade, given the high volatility in the Russian currency after Western nations imposed sanctions on the country. Payments are likely to be settled in the rupee pegged to the dollar, and deposited in an Indian bank account. “The rupee-ruble trade may not be […]
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. […]
India Considering Rupee Payments For Trade With Russia: Report
India is working out a mechanism to facilitate trade with Russia using local currencies, with a decision expected as early as next week, according to people familiar with the matter. The government is discussing how trade can be settled in rubles and rupees as Indian exporters are awaiting payments of about $500 million… To read […]
How Malaysia E&E Industry Benefited from the China-US Trade War (Part 1)
By Charles F. Moreira, Editor Malaysia’s electrical and electronics (E&E) industry grew by leaps and bounds after semiconductor giant Intel opened its first integrated circuit production plant outside the United States in Penang’s Bayan Lepas Free Trade Zone in 1972 Others such as Broadcom, Dell, Motorola, National Semiconductor, other U.S. and Asian E&E manufacturers and […]
China unlikely to meet U.S. trade targets
Economic fallout from the coronavirus pandemic has cast doubt on whether China can meet its targets to buy U.S. goods under this year’s trade deal — with energy emerging as the biggest casualty. China has made strides toward its agricultural and manufacturing targets, but it remains far behind — maybe hopelessly far…. To read more: […]