World Trade

China Overtakes South Korea As World’s Top Spot for “Shipbuilding Competitiveness”

China Overtakes South Korea As World’s Top Spot for “Shipbuilding Competitiveness”

pgnewser May 16, 2024

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Excerpt from english.hani.co.kr

One of Korea’s top three shipyards, located in Geoje, South Gyeongsang Province. (Yonhap)

Reports have shown that China’s competitiveness in the shipbuilding sector has, for the first time, surpassed that of South Korea. While Korea’s shipbuilding industry is booming thanks to a string of orders for liquefied natural gas (LNG) carriers, alarm bells are ringing over China’s rising competitiveness. The alarms also serve as a warning: Measuring competitiveness by total orders or specific orders of vessels alone may be misleading.

In a report released Monday, the Korea Institute for Industrial Economics and Trade (KIET) said that South Korea had “ceded its top spot in the shipbuilding industry’s value chain competitiveness to China in 2023.”

The report concerned the lagging competitiveness of South Korea’s shipbuilding value chain and explored possible directions for South Korea’s maritime strategy going forward.

Biden Announces New Round of Tariff War with China, Who Threatens to Respond in Kind – freedomist.com

Biden Announces New Round of Tariff War with China, Who Threatens to Respond in Kind – freedomist.com

pgnewser May 15, 2024

 

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Excerpt from freedomist.com

President Joe Biden made it official on May 14, 2024 when the administration announced it would be implementing a new round of tariffs targeting Chinese goods, including electric vehicles. The tariffs affect $18 billion worth of Chinese goods.

US overtakes China as Germany’s top trading partner– www.deccanherald.com

US overtakes China as Germany’s top trading partner– www.deccanherald.com

pgnewser May 9, 2024

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Excerpt from www.deccanherald.com

Berlin: The United States overtook China as Germany’s most important trading partner in the first quarter of this year, according to Reuters’ calculations based on official data from the German statistics office.

Germany’s trade with the United States – exports and imports combined – totalled €63 billion ($68 billion) from January to March, while the figure for China was just under 60 billion euros, the data showed.

In 2023, China was Germany’s top trading partner for the eighth year in a row, with volumes reaching 253 billion euros, although that was only a few hundred million ahead of the US.

“German exports to the US have now risen further due to the robust economy there, while both exports to and imports from China have fallen,” said Commerzbank economist Vincent Stamer, explaining the first quarter shift.

Vietnam’s China ties loom large in U.S. hearing on market economy upgrade– www.japantimes.co.jp

Vietnam’s China ties loom large in U.S. hearing on market economy upgrade– www.japantimes.co.jp

pgnewser May 9, 2024

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Excerpt from www.japantimes.co.jp

U.S. President Joe Biden’s bid to draw Vietnam closer as a strategic ally clashed with his desire for union workers’ votes on Wednesday as trade lawyers sparred over whether the Commerce Department should upgrade the communist-ruled country to market economy status.

The move, opposed by U.S. steelmakers, Gulf Coast shrimpers and American honey farmers, but backed by retailers and some other business groups, would reduce the punitive anti-dumping duties set on Vietnamese imports because of its current status as a non-market economy marked by heavy state influence.

Vietnam’s deepening economic ties to China loomed large in arguments on both sides of the issue at a virtual public hearing hosted by the Commerce Department as part of a review. A decision is due on July 26.

Italian PM Meloni Signs Cooperation Deals In Libya Visit– en.wenews.pk

Italian PM Meloni Signs Cooperation Deals In Libya Visit– en.wenews.pk

pgnewser May 7, 2024

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Excerpt from en.wenews.pk

TRIPOLI: Italian Prime Minister Giorgia Meloni visited Libya on Tuesday to sign cooperation agreements with leaders from both administrations in the North African country.

Accompanied by a ministerial delegation, Meloni held discussions with leaders from both administrations in Libya, focusing on bolstering cooperation in various sectors.

During her second visit to Libya since assuming office in October 2022, Meloni met with the head of the Tripoli-based government, Abdelhamid Dbeibah, to finalize several “declarations of intent” aimed at enhancing collaboration. According to Libyan officials, these agreements encompass areas such as health, education, research, youth, and sports.