Trade
in sentence
11085 examples of Trade in a sentence
How Trump Is Helping ChinaFRANKFURT – The Sino-American
trade
war, initiated early this year by US President Donald Trump’s administration, is escalating rapidly.
After all, Trump believes that a country with a bilateral
trade
deficit is necessarily being taken advantage of by its partner.
The reality, of course, is that whatever costs the US incurs from
trade
with China are vastly outweighed by the benefits.
True, the
trade
deficit with China has cost the US jobs.
The key question is – and will always be – whether the US is able to upgrade its economic structure and ensure a fairer domestic distribution of the benefits of international
trade.
This cost-benefit calculation is probably why successive US administrations were happy to run
trade
deficits with China, even if they pretended otherwise.
China’s government, too, was generally comfortable with the arrangement, though some Chinese economists have long warned that running a
trade
surplus with the US was not in China’s long-term interests, for a few key reasons.
Yet when China began running a continuous
trade
surplus, its per capita income was just above $400.
If China must reduce its
trade
surplus with the US, it must also reduce its
trade
deficits with the East Asian economies.
But, thanks to Trump’s
trade
war, policymakers are now pursuing them with a new sense of urgency.
In that sense, the
trade
war may end up being a blessing in disguise for China.
(While some have been attracted to the idea of confining a new
trade
partnership to America’s closer friends and allies, thereby excluding China, it is difficult to see how this would serve any constructive purpose.)
China knows perfectly well where Australia, the US, and others stand; its leaders understand these countries’ alliance relationships, even as they rail against them, and have their own compelling reasons to continue to
trade
with us.
Global
trade
in goods rose from 13.8% of world GDP in 1985 ($2 trillion) to 26.6% of GDP ($16 trillion) in 2007.
Propelled by demand and outsourcing from advanced economies, emerging markets won a growing share of the soaring
trade
in goods; by 2014, they accounted for more than half of global
trade
flows.
Since the Great Recession, however, growth in global merchandise
trade
has stalled, mainly owing to anemic demand in the world’s major economies and plummeting commodity prices.
If
trade
in global goods has indeed peaked relative to global GDP, it will be harder for poor countries in Africa, Latin America, and Asia to develop by becoming the world’s next workshops.
While global goods
trade
has stalled and cross-border financial flows have fallen sharply since 2007, flows of digital information have surged: Cross-border bandwidth use has grown 45-fold over the past decade, circulating ideas, intellectual content, and innovation around the world.
Data flows accounted for an estimated $2.8 trillion of this gain, exerting a larger impact than global goods
trade
– a remarkable finding, given that the world’s
trade
networks developed over centuries while cross-border data flows were nascent just 15 years ago.
Twelve percent of global goods
trade
is already conducted in ecommerce channels.
Inspired by the events taking place in Charlottesville, advocates have emerged in Britain seeking to pull Admiral Nelson off his famous column on Trafalgar Square in London, because the British naval hero supported the slave
trade.
China’s
trade
surplus might shrink by half of that amount (with cuts in
trade
surpluses also spread over other global regions), meaning a shift in Chinese GNP toward internal demand and away from net exports equal to between 5% and 10% of China’s GNP.
Recovery will require major shifts in
trade
imbalances, technologies, and public budgets.
Existing global rules – embedded in multilateral, regional, and bilateral
trade
and investment agreements – are being challenged by the new processes that digitization is enabling.
The World
Trade
Organization’s General Agreement on
Trade
in Services (GATS), for example, governs
trade
in services through different “modes of supply.”
Many developing countries agreed to liberalize cross-border delivery of services (so-called “mode one” trade), never anticipating just how dramatically the digital economy would revolutionize cross-border economic opportunities and enable more services to be delivered across borders.
Supporting such efforts, the Obama administration made the digital domain a core part of US
trade
policy.
Provisions on the free flow of data, together with prohibition of data localization and forced technology transfer, were included in so-called “twenty-first-century
trade
agreements,” like the Trans-Pacific Partnership and the Transatlantic
Trade
and Investment Partnership.
The election of President Donald Trump in the US, who campaigned on a platform of protectionist
trade
rules and support for “traditional” manufacturing industries, has called into question the future of digital rulemaking.
It remains to be seen how digital
trade
regulations will fare under the TTIP, which Trump has suggested he might revive.
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