‘TIPS Digest’ – VOLUME 1: September 2016
Global Trade Is At Its Slowest Since the Financial Crisis
As hostility towards globalization and trade integration gain ground in Europe and in the US Presidential debates, the World Trade Organisation (WTO) this week slashed the outlook for trade growth by one-third. The WTO has announced that world trade will grow this year at the slowest pace since the financial crisis and the great recession that followed.
Fall of Hanjin Shipping: What Implications for International Trade?
From raw materials to finished goods, the global shipping industry carries the lifeblood of international goods trade. But after years of weakening demand, overcapacity, and falling freight rates, the shipping industry is struggling on several fronts. With recent news on the fall of Hanjin Shipping – the world’s seventh largest container line – it is evident that the industry has hit a crisis point.
Non-Tariff Barriers to Trade: Tackling Compliance Related Issues
Each country has a right to maintain product standards and regulatory mechanisms to ensure the safety of their citizens as well as animal and plant life from health risks arising from cross border movement of goods. However, in recent years there is a tendency to use these measures as non-tariff barriers in international trade and as hidden protection from competition.
G20 Meeting Reveals Worrying Trends in Global Trade
As heads of state and trade ministers of the world’s twenty largest economies gathered in Guangzhou, China, for the G20 meeting, one of foremost items on their agenda was the worrying slowdown in global trade and tensions relating to trade protectionism and excess industrial capacity. Moreover, the Summit revealed that elevated geopolitical risks and regional tensions could be a significant barrier in further progress on trade integration.
Substantive and Sensible Inputs to Influence Trade Policy
To position Sri Lanka as a globally competitive economy, the country is going to have to systematically re-calibrate its trade and investment policies with a focus on greater liberalization.