Background

Globalization is alive and kicking in trade’s big 2020 comeback

“Following two years of the U.S.-China tariff war, trade carried out through sprawling networks of suppliers -- the bogeyman of protectionism backers -- are acting as lifelines to consumers and shock-absorbers for many businesses. Companies … are reinforcing their sources of production abroad instead of retreating from global markets.”

[Bloomberg]

China dominates world export markets despite U.S. trade war

“Nikkei analyzed data on 3,800 products compiled by the International Trade Center and found that there were 320 products in 2019 in which China held a share of more than 50% in export markets. By comparison, in 2001, when China joined the World Trade Organization, the number was 61 products. The number of products of which China had a high share stopped increasing from 2016 onwards, when U.S. President Donald Trump took office and then the trade war began, but the number increased again last year.”

[Nikkei]

China's push for FTA with S. Korea, Japan appears aimed at checking U.S. influence

“Beijing's refocus on the FTA came as China seeks to further cement its role in promoting multilateral cooperation after the Nov. 15 signing of the 15-member Regional Comprehensive Economic Partnership agreement (RCEP) that involves China, South Korea and Japan.”

[Yonhap]

Australia, Singapore to test paperless trade using blockchain technology

“Specifically, it will test digital verification platforms across both the ABF’s intergovernmental ledger and IMDA’s TradeTrust platform for sharing electronic documents, primarily certificates of origin.”

[Coindesk]

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