Trade

For all the talk of cross-Strait military tensions – which are real – in the economic realm, Taiwan’s fortunes have been bound to those of China. Recognising the need to diversify, when Tsai Ing-wen was elected in 2016, she initiated what was dubbed a “New Southbound Policy”, with the

Beginning last May, China has hit Australia with a barrage of trade sanctions in a fairly overt attempt at economic coercion. It’s still early days, but it’s worth taking stock of what the economic impact has been so far. The fact that China’s trade sanctions have taken place

Lock the doors When the China trade numbers were released on Tuesday, you could hardly blame Australia’s 2500 winemakers if they locked themselves in the cellar with a nice bottle of red. They certainly have plenty to drink. Only three months ago, Chinese customers drank 50% of Australian red

Much of the economic gains from the newly signed mega trade deal known as the Regional Comprehensive Economic Partnership will come from mitigating what is called the Asian “noodle bowl effect”. The deal will harmonise what have to date been separate rules of origin across the region into

A man who has earned a reputation for compromise and dealmaking over his half-century in Washington, Joe Biden has also won the presidency by presenting himself as a national unifier, while simultaneously putting forward a policy agenda that some consider to be the most progressive in American

Like a sailing ship caught in the doldrums, the international trade policy world seems stagnant and listless. Is there any fresh wind to be detected? Can we create some movement? In this coronavirus–dominated environment, nothing much is happening. The trend in global trade itself is not easy to

When Canberra called for an international, independent inquiry into Covid-19 in April, Beijing deployed trade restrictions measures against Australian beef and barley the next month. And so when the Australian government responded firmly to China imposing a sweeping national security law in Hong

Albert Einstein once said that “in the midst of every crisis lies great opportunity”. For an open trading nation like Australia, the pandemic is an unparalleled crisis. The nation is facing its worst downturn since the Great Depression, along with recessions in key trading partners, severe

Did anyone notice that the United States–Mexico–Canada Agreement (USMCA), the revised NAFTA, entered into force on 1 July? If not, do not be too concerned, as the Covid-19 crisis has probably affected that as well. Still, this deal is (without getting too much into the weeds of whether it is

Growing Sino-Australian diplomatic and trade disputes have led to Chinese import bans on certain Australian products, but iron ore – Australia’s biggest export to China – has largely been kept out of the fray. Although China did impose new import procedures that could potentially hold up

ASEAN rising Australian businesses in Southeast Asia are showing continued faith in regional economic integration despite the relatively lacklustre cross border political cooperation so far seen in response to the pandemic. A new survey of Australian-connected businesses on

Retail therapyWhen even the normally unflappable Trade Minister Simon Birmingham bluntly tells business to reduce ties with the country that has underpinned the Australian economy for two decades, a mood shift is afoot. It took some prodding, but Birmingham finally broke cover at the end of his ABC&

Earlier this week, New Zealand moved out of total lockdown into a phase of continuing control on social movement, but with an opening of widespread economic activity. Schools reopened partially. It is estimated that about half a million people returned to work after a stand down of five weeks.

What impact will coronavirus have on economic globalisation, the force that has so momentously changed our world over the last half century? An early example is the global trade in medicines and medical products, especially those essential to fighting coronavirus such as face masks, ventilators

It may go awry between now and the promised finalisation in January, but both the US and China now agree that phase one of the most difficult bilateral economic negotiation in recent decades is over. Unusually for this negotiation, the two sides also seem to agree on what they have agreed – at

After a roller-coaster ride spanning 18 months, the trade war between the United States and China is finally showing signs of abatement, with the two sides confirming that they are close to the conclusion of a phase-one deal. While the signing of the deal, which was originally scheduled to take

Market day For two generations, the term “Factory Asia” has neatly encapsulated the essence of the region’s economic success, with components flowing across the region for products mostly ultimately exported to the developed world. But as Asia embraces its first regionwide trade deal this

E-bills, e-signature, the electronic transfer of funds – advancements in technology are bringing about remarkable changes in the business landscape, domestically and internationally. All this change is facilitating the faster movement of goods across borders and forcing governments to keep pace.

Despite the modern proliferation of free trade agreements, there is an enormous gap between free trade as it is understood and advocated by those who benefit from it, and free trade as it is practiced today. The understanding of economic integration is diverse and complicated – at its heart sits a

While President Donald Trump’s bull-in-a-China-shop approach to reforming international trade doesn’t appeal, it is possible that some of his objectives might make sense. This was the logic behind comments by former Barack Obama adviser Daniel Russel, suggesting that Australia

With resumed contact between US trade negotiator Robert Lighthizer and China’s negotiator Vice Premier Liu He, the 12th round of trade talks between the US and China may take place in Beijing before the end of July. But the clock is now ticking very loudly. Contrary to the messaging from Beijing