Desteia (formerly Auba)’s Post

China's services trade reports rapid growth in Jan-Aug China's services trade saw rapid growth in the first eight months of the year, including a steep increase in the trade of travel-related services, official data showed on Thursday. #China #TradeGrowth #TravelServices #Economic #ServiceSector #ChinaEconomy #TradeStatistics #TravelIndustry #EconomicTrends #DataReport

Eurostat, the EU official statistic office, found that the EU’s trade deficit with China slid 27% in 2023, to €291 billion down from €397 billion in 2022   #european_business_review #EBR #european #business #review #news #europe #world  

China's services trade has seen a robust increase, reaching nearly 5.52 trillion yuan ($777.29 billion) from January to September, up 14.5% YoY. Notably, trade in travel-related services surged by 42.8% YoY, while trade in knowledge-intensive services grew by 5.3% YoY, underscoring the sector's rapid growth. #InvestinChina #ServicesTrade #ChinaEconomy

Brexit Britain gives 1.1 trillion trade Boost Brexit has given Britain a “new lease of life” and turned the country into a global trading powerhouse, Esther McVey has said. The Cabinet Office Minister hailed the UK as a “force to be reckoned with” following an export boom since we left the EU. She said recent data showing Britain has shot up to the fourth largest exporter in the world proves the “doomsters, gloomsters and the ever-dwindling band of Remoaners” were wrong. Britain has grown faster than France, Germany and Italy and is now the fourth largest exporter in the world, up from seventh in 2021 -overtaking France, the Netherlands and Japan - helped by the UK already having secured trade deals with 73 countries plus the EU, accounting for £1.1 trillion bilateral trade in 2022. The UK has now overtaken France for manufacturing, with that sector accounting for 42% of the UK’s exports. And those manufacturing jobs are right across the UK - 83% are outside London and the South-East, compared to 61% of the economy as a whole. Source - Express

U.S. Trade With Mexico Surges to No. 1 Position As reported in the July 2024 Reshoring Institute newsletter (https://lnkd.in/dWe5fvVA), Mexico was the biggest trade partner of the U.S. in 2023 and the biggest source of the country's imports ahead of China. Trade with Mexico - both imports and exports - totaled close to $800 billion last year as efforts to source closer to home and reduce dependence on China are ongoing in the U.S. and other Western countries. Full details at https://lnkd.in/d4RJ4ZVZ

The Trade Deal That Reshaped Canada’s Economy: 30 Years of NAFTA and the USMCA in 2024. How has Canada’s economy evolved over the past three decades? From NAFTA’s groundbreaking launch to the revised USMCA in 2020, this video takes a deep dive into the impacts—both positive and negative—that these trade agreements have had on Canadian workers, businesses, and industries. What did Canada gain, and what were the hidden costs? Have these trade deals lived up to their promises, or have they created unforeseen challenges for Canadian citizens? Whether you’re a worker, entrepreneur, or simply curious about the economic changes shaping the country, this video is an essential watch. Join us as we examine the road Canada has traveled since the early days of NAFTA, through to the updates of the USMCA in 2020. We’ll explore real-life implications, the evolving trade landscape, and the opportunities and obstacles that have come with them. Created by Navin Ramesar, this insightful analysis will provide you with a clearer picture of how international trade policies continue to impact Canada today. Don’t miss out—watch now to understand the forces shaping Canada’s economy and what the future may hold. https://lnkd.in/e84MvBHU

Two-way trade between Mexico and US hits record high! Mexico's exports to the US surged by nearly 6% annually in the first eight months of 2024, reaching a historic high of over US $334 billion. The US Census Bureau and the U.S. Bureau of Economic Analysis revealed that Mexico's exports to the US amounted to $334.73 billion between January and August, marking a 5.8% increase from 2023. In 2023, the total trade between Mexico and the U.S. soared to $799 billion, up by 2.5% compared to 2022, setting a new historical peak. This growth solidifies Mexico's position as the most crucial trade partner of the United States, highlighting the significance of the U.S.-Mexico trade relationship for both economies. #Trade #USMexicoTrade #EconomicGrowth #mexico #US #business #nearshoring #fdi #sotlanding #cre #realestate #commercialrealestate #industrialrealestate

The trade data released yesterday from China shows a higher than expected increase in both imports (3.5%) and exports (7.1%) compared to the rest of the world, potentially signaling a gradual recovery of the global economy. It is important to assess whether this growth is sustainable or if it is driven by temporary factors, such as a low base in 2023. Interestingly, Germany did not experience the same benefits from this trend, as imports from Germany decreased by over 18%, while exports to Germany increased by 2.1%.  #china #trade #globaleconomy #germanbusiness #germanbusinessinchina #chinatrade #chinanews

“the “wisdom of crowds” and markets is giving way to the whims of mercurial men — with reverberations that reach into distant nations and villages.” Must read article on the industrial trends unfolding in Vietnam. Though uncertain, many expect this industrial boom to continue on the back of Trump’s deepening trade war - potentially imposing 60% tariffs on China which currently maintains up to 32% of global manufacturing. By contrast, Vietnam’s share of global manufacturing is 2-3%, I believe the lower cost base, geography, infrastructure development, large young well educated population, wider “streamlining”, among other factors, will allow Vietnam to capture an extra percent or two of this global manufacturing share as part of wider supply chain diversification efforts - though not China plus one, but China plus two or three. For more information on the unfolding trends here in Vietnam and related investment opportunities, please feel free to reach out to myself or colleagues at CBRE Vietnam CBRE Capital Markets.

The story of China's economic distortions is roughly two decades old. Toward the end of the piece, Greg Ip highlights the only really "new" dynamic, other than the growing scale of the problem: "[N]o single country can fix the problem. Like a dike deflecting floodwaters, U.S. tariffs have diverted Chinese exports to other markets. Those other countries are now taking action. Mexico, Chile, Indonesia and Turkey have all announced or said they are considering tariffs on China this year. This week Canada announced steep new tariffs on Chinese electric vehicles, steel and aluminum, aligning with those already announced by the U.S. Yet the world thus far lacks a unified solution to Chinese underconsumption, because China refuses to accept that it’s a problem." See link in comments to Aaron Friedberg's recent articulation of the solution in Foreign Affairs. It's time to replace "global free trade" as a guiding principle with "free trade among free people."