EU's trade gap with China: Adam Dunnett

Current Momentum (Opportunities) of World Trade, courtesy from David Goldman: " China’s exports to developed markets (the US, Europe, Japan and Australia) have barely risen during the past few years, while exports to the Global South (including Russia, the Persian Gulf States, Central Asia, South Korea and Taiwan) have roughly doubled. That is an unprecedented shift in world trade patterns, and in some ways the most important economic event of the past decade. " Furthermore, " A large proportion of China’s exports to the Global South consists of digital and physical infrastructure. China dominates the buildout of broadband in Southeast Asia, Central Asia, Africa and Latin America, as well as the provision of physical infrastructure. A substantial part of China’s exports provides a foundation for future growth by raising the productivity of developing countries..." Excellent Observation!! read more @ https://lnkd.in/g7UXgQ6f

On October 7, C.Y. Leung, Vice Chairman of the Chinese People's Political Consultative Conference (CPPCC), and Hing Chao, Executive Chairman of Wah Kwong Maritime Transport Holdings Limited, Founding Member and Chairman of the Hong Kong Chamber of Shipping, addressed media questions during the launching reception of the Hong Kong Chamber of Shipping (HKSOA). They discussed whether Hong Kong's development as an international shipping centre would benchmark against or replace London. C Y Leung emphasised that Hong Kong will not become another London but must further enhance its status as an international shipping center. The establishment of the HKSOA is intended to leverage Hong Kong's unique advantages, contribute to China's goals of becoming a maritime and transportation power, and elevate Hong Kong's status as an international financial, shipping, and trade centre. Similarly, Hing Chao believed that under the "One Country, Two Systems" framework, Hong Kong has a very well-developed ecosystem and financial system, which provide it with distinct advantages in supporting China's construction of a maritime and transportation power. On one hand, the international development of Chinese ports and shipping enterprises requires the support of Hong Kong's high-level maritime services. On the other hand, China is rapidly advancing in the fields of clean energy and clean fuel technology, particularly with solar panels and wind power manufacturing, which today stand between 67% and 70% of the global supply, and these numbers are probably prime to increase. "We are right at the start of this new, what we call the third industrial revolution, and Hong Kong is sitting on the doorstep of this. So if we do our job well, Hong Kong still has a very long way to go," Hing Chao said. Read:https://lnkd.in/g5AyhTVu

“There are high levels of complementarity between the Australian and the Chinese economy. But there is no question that the Australian prosperity relies on the prosperity and the growth of the Chinese economy. The traditional areas remain important, now that's the export of things like iron or and agricultural products. But new areas of cooperation, new areas of investment development include green energy, the digital economy and climate related developments. In these areas, China is a leader.” Daryl Guppy, Former Member of the Australia China Business Council (ACBC), Australian Representative of the Silk Road Chamber of International Commerce (SRCIC), told us in an exclusive interview. China and Australia have particularly close economic and trade ties and have gradually developed a mutually beneficial and win-win economic and trade relationship. Currently, the Regional Comprehensive Economic Partnership (RCEP) has entered its third year of implementation, and under the RCEP mechanism and framework, China-Australia bilateral trade is playing an increasingly important role. “Now recently, there have been some what we would call behind the border barriers that go against the spirit of chapter. That includes some changes to Australia’s Foreign Investment Review Board, and the way that is treating investment proposals from China differently from the way the proposals from the United Kingdom, the United States are treated. So there is room for some revisioning, the terms of chapter and some improvement of that. RCEP provides many opportunities for China and Australia regulation and cooperation.” Guppy added. Read: https://lnkd.in/gd2763f2

EY Greater China region releases the 11th issue of China Go Abroad – Cross the millennia-old trade route New perspectives on Arab investment Against the backdrop of a rapidly evolving international landscape, China-Arab relations have ushered in a new era. Both sides are emphasizing economic development based on mutual benefit and innovation, creating vast opportunities for collaboration. In the future, China and the League of Arab States (LAS) will continue to leverage platforms such as the China-Arab States Cooperation Forum and the China-Arab States Summit to strengthen their strategic partnership, accelerate cooperation in sectors such as finance, energy, infrastructure development and consumer goods, and work together to advance a more inclusive and equitable multilateral framework on a global scale. Read more: https://lnkd.in/gYXtk8nP   安永大中华区发布第十一期《中国走出去》系列报告﹕《跨越千年商道：阿拉伯投资新视角》。在国际格局日益复杂的背景下，中国和阿拉伯国家联盟关系迈向新纪元，双方聚焦经济发展，以互惠互利为核心，以创新驱动为动力，拓展了前所未有的合作空间。未来，中阿将继续依托“中阿合作论坛”及“中国—阿拉伯国家峰会”等平台，进一步提升战略伙伴关系，加快金融、能源、基础设施建设和消费品等领域合作，共同推进平等有序、普惠包容的多边新格局。阅读更多：https://lnkd.in/gP3sfv3f

“Hong Kong should never be complacent but keep moving forward vigorously. Various sectors, such as the culinary industry, need to transform to attract both tourists and locals to stay and spend. Otherwise, Hong Kong will be obsolete.” Frederick Ma, Group Chairman of FWD Insurance, told the reporter of Southern Finance Omnimedia at Opportunities Hong Kong. Since Hong Kong fully reopened its borders to normalcy in 2023, HK government has introduced a series of policies to enhance economic and trade exchanges with mainland and overseas. Also, the governemnt has stepped up efforts to support enterprise innovation, and promote economic recovery. Private consumption, contributing to more than 70% of Hong Kong's economy, serves as a significant driver for the ongoing economic recovery. In response to recent badmouthing of economic decline in Hong Kong by western media in recent years, Frederick Ma said that following the enactment of the national security law, Hong Kong has achieved a ful restoration of stability. With Hong Kong transitioning from a state of turmoil to order and economic growth, it's imperative for both the government and the business community to enhance their public relations efforts to counter any biased narratives that could impact the global perception of Hong Kong. Read：https://lnkd.in/gfDF_ibs

China’s Overcapacity and Economic Malaise   #China’s recent economic woes have made headlines covering everything from #realestate to #debt, but Janet Yellen’s recent visit to China and her focus on China’s overcapacity and its tie-in with tariffs has captured headlines.   I was delighted to be interviewed by Voice of America's Bo Gu on this latest development in Sino-#American rivalry and Industrial Policy.   China’s # export-oriented economy not only usually has an incentive to export, but even if there was an incentive to decrease exports, #Chinese State Owned Enterprises, local #government, and much of the over-leveraged private sector have every incentive to maintain full speed ahead.   The result? Two parallel problems: 1) A collective action problem (ironic given that Command Economies of many types argue they have few difficulties with collective action problems) and 2) A free rider problem with everyone hoping somebody else pulls back.   For more details, and how this is likely to end, please see my latest in Voice of America.   https://lnkd.in/eMG_Z32z

Doug Bandow, Senior Fellow at the Cato Institute, highlighted at the 10th China and Globalization Forum that the obstacles encountered by globalization include protectionism and economic nationalism. Economic priorities are taking a back seat to security considerations, resulting in shifts in supply chains driven by fears of foreign dominance in various industries. This has escalated the push for decoupling and supply chain disruptions. Additionally, economic sanctions targeting the regulation of industries and technologies are exerting an influence on the market.   Saroja Sirisena, Former Sri Lankan High Commissioner to the UK, said that “We must have a common understanding of rules and learn how to better manage this multipolar world. A new international order is necessary for effective governance; otherwise, we cannot maintain high productivity. Additionally, we must consider that all countries should be equal under a rules-based international order.” Center for China and Globalization Read: https://lnkd.in/gzbyGGFi

Transcript of the 14 September Special Press Conference on the China-Africa Cooperation Forum of the State Administration for Market Regulation Includes details of the China-Africa Quality Improvement Plan, following the 2024 Beijing Summit of the Forum on China-Africa Cooperation, including: -implementation of the China-Africa Quality Improvement Plan, -the construction of 100,000 acre agricultural standardization demonstration zone, -the establishment of the China-Africa Standardization Cooperation and Research Center, -China-Africa Trade Digitalization Mutual Trust Verification Platform, which will further promote the compatibility and interoperability of market rules and regulations between China and Africa. "The State Administration for Market Regulation has thoroughly implemented the spirit of the Third Plenary Session of the 20th CPC Central Committee and proposed the "China-Africa Quality Improvement Plan". Its purpose is to improve the quality infrastructure of African countries through assistance and cooperation with Africa in the fields of metrology, standards, certification and accreditation, strengthen the connection between China-Africa quality management and standards, and ensure the compatibility of market rules and regulations. It will effectively reduce the institutional transaction costs of China-Africa economic and trade cooperation, expand institutional opening up to Africa, and contribute to the building of a high-level China-Africa community with a shared future."

After more than two years of negotiations, Taiwan and Thailand have officially signed the "Investment Promotion and Protection Agreement" on June 27th. This marks a significant milestone in our bilateral economic and trade relations. Since the launch of the New Southbound Policy, the total trade volume between Taiwan and Thailand has surged from $9.301 billion in 2016 to $16.24 billion in 2023, an impressive 74.6% increase. Investment between our countries has also seen tremendous growth, nearly doubling from $3.18 billion to $6.99 billion. This highlights Thailand's importance as a key economic partner for Taiwan in the ASEAN region. This agreement comes at a crucial time as Southeast Asia, particularly Thailand, has become a popular investment destination for Taiwanese businesses, especially in the electronics and electrical sectors. We are confident that this new agreement will provide comprehensive protection for Taiwanese investors in Thailand. We continue to focus on helping Taiwanese businesses diversify investment risks and remove obstacles, strengthening the resilience of our overseas investment layouts. With this agreement, along with those signed with the Philippines, India, Vietnam, and Canada, we are paving the way for a more robust global presence.