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Global Trade: FedEx (NYSE:FDX) Slashes Profits; US and China File Cases Against Each Other With WTO


Plus, reported trade statistics from across the globe, and more.

More Global Trade News From the Past Week
  • According to data released by the CPB Netherlands Bureau for Economic Policy Analysis, global trade volumes decreased by 1.4% month-on-month in June, after they rose 2.6% in May. World trade was up 0.3% in the second quarter, after an 0.8% increase in the first quarter. World industrial production dropped by 0.1% month-on-month in June, after rising 0.5% in May. World industrial production was stagnant in the second quarter, after rising 1.8% in the first quarter.
  • In Kenya, leaders from 54 countries in the African, Caribbean and Pacific Group of States (created by the Georgetown Agreement of 1975) convened to discuss international trade policies and how to overcome trade constraints. Meanwhile, Linah Kelebogile Mohohlo, the governor of the Central bank of Botswana, has written a feature for CNN titled: How to Boost US-African Trade.
  • The Trans-Pacific Partnership agreement ended its 14th round in Virginia on Sunday, where Vietnam's Minister of Trade Tran Quoc Khanh concluded talks with the US, Brunei, Chile, New Zealand, Peru, Singapore, Malaysia and Australia. Highlights included key negotiations in opening up trade between the United States and Vietnam.
  • HSBC (NYSE:HBC) launched the HSBC MENA / Turkey Forum this past week. Tim Reid, Regional Head of Commerical Banking for HSBC United Arab Emirates and North Africa (MENA) has said that the Turkish economy will likely see healthy growth in the near future thanks to "strong fundamentals and good demographics."
  • In a joint interview with ParisTech Review and Knowledge@Wharton, Pascal Lamy, the out-going Director-General of the World Trade Organization, underscores the high stakes and complex issues facing global trade today. The fundamental element facing global trade relations, Lamy believes, is the cultural element -- the one element that cannot be negotiated.
  • Eurasia food culture blog Kebabistan takes an inside look at the unintended effects of Russia's 2006 embargo against Georgian semi-sweet wine, once favored among Russian consumers. Driven to find new markets, Georgian winemakers have been pressured to up the caliber of their bargain-quality product. Yet, in a twist of fate, Russia's new membership in the WTO might see old trade restrictions abolished, and Georgian winemakers are left wondering if Russian consumers will have a taste for a more refined vine.
Two Links Worth a Click

Is Unilateral Free Trade a Good Thing? - Forbes

Global Carbon Trading System Has 'Essentially Collapsed' - Climate Central

Twitter: @brokawbrokaw
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