Tag Archives: global trade

France on Thursday became the first major economy to impose a tax on digital giants, with parliament passing the legislation in defiance of a probe ordered by President Donald Trump that could trigger reprisal tariffs.The new law aims at plugging a taxation gap that has seen some internet heavyweights paying next to nothing in countries where they make huge profits. Asia TimesFrance passes law to tax digital giants Hazel Ward

A new quarterly report from logistics company DHL, measured global air and sea cargo trade volumes between March and June, found trade data continues to deteriorate in the US and China as there is still no resolution to end the trade war, reported South China Morning Post(SCMP). Chinese imports were "losing significant momentum," the report stated, indicating the epicenter of the slowdown was situated in basic raw materials, capital equipment and machinery, and consumer fashion goods. The...

A sizeable portion of the US discussions about economic policy toward China seem to me based on two conceptual mistakes. One mistake is that China's rapid economic growth fundamentally depends on trade with the US. The other mistake is that the bulk of US economic problems depend in some fundamental way on trade with China.... It's worth spelling out the underlying logic here a bit. The formula for economic growth is to invest in human capital, physical capital, and technology, in an...

Although the G20 still retains its potential to support the global economic stability, there is an impression that its mission is coming to an end. If this trend is not reversed, then, a summit or two from now, we might see the return of trade wars and competitive devaluations of national currencies. In that case, the current G20 format, built around the US leadership and hegemonic in nature, will not work at all. The nature of the G20 is that of an international forum, not an international...