Trade Winds

20 Jul 2017

Tags

  • Divya Skene
  • Trade Winds

This week’s readings focus on technologies adopted by business, and other drivers of change including the rise of a global middle class.

  • The WTO Secretariat reports that G20 economies applied 42 new trade-restrictive measures during the trade review period (mid-October 2016 to mid-May 2017), including new or increased tariffs, customs regulations and rules of origin restrictions.  This equates to an average of six trade restrictive measures per month which is slightly higher than in 2016, but below the longer-term trend observed from 2009-2015 of seven per month.  However during the review period, the estimated trade coverage for trade facilitating measures (US$163 billion) significantly exceeded the estimated trade coverage of trade restrictive measures (US$47 billion).
  • VoxEU research of Japanese firm level data shows foreign direct investment does not appear to have adverse effects on domestic transaction networks. Rather, the positive effects of firms’ foreign investing are found to spread to the whole economy through their supply chains.
  • East Asia Forum comments on Japan’s vision for the region’s economy and infrastructure – and the role of the Belt and Road in this vision.
  • ‘At the stroke of midnight 1st July 2017, India freed itself from shackles of an obsolete tax system with implementation of GST across different states’ – Forbes.com.  Shashi Tharoor’s perspective on India’s GST, in Project Syndicate.
  • Greg Earl summarises key global trade initiatives in the Lowy Interpreter’s Economic Diplomacy Brief.
  • The Australian Technology Network of five universities were selected in the QS University Rankings for the ‘top 50 under 50’, which highlights world leading universities established in the last 50 years and is based on six indicators relating to research, teaching, employability and internationalisation.