For the first time, China exported more to Southeast Asia than the US last year, highlighting the realignment of global trade that’s happening as the economic relationship frays between Washington and Beijing. The 10 nations in Asean bought $524 billion of goods last year, higher than the $500 billion worth sold to the US or … Read more
Is there any point in filing trade disputes against China at the World Trade Organization? For the US, the answer appears to be no, thanks to what Washington perceives as an unfair dispute-settlement system that’s also expensive, takes too long and doesn’t effectively change behavior in Beijing. Source link
Chinese Premier Li Qiang highlighted his country’s strong ties with Southeast Asia during a meeting on Wednesday with the leaders of a region that’s challenged by an increasingly complicated geopolitical landscape. Indonesian President Joko Widodo opened the Association of Southeast Asian Nation’s summit on Tuesday saying the region must not become a proxy for any … Read more
September 5, 2023 at 7:09 PM EDT Good morning, it’s Karen coming to you from Sydney, and here’s what you need to know today… Today’s must-reads:• NZ’s Hipkins in conversation with Bloomberg• New Qantas boss under pressure• Albanese speaks at Asean The annual Bloomberg Address takes place in Auckland today where New Zealand Prime Minister … Read more
When Southeast Asia’s annual summit was expanded to include the US more than a decade ago, it assured an often neglected region a regular audience with the sitting president. Not this year. Joe Biden will skip the summit hosted by the Association of Southeast Asian Nations in Jakarta starting Tuesday, prompting former top diplomats in … Read more
I’m Chris Anstey, a senior editor for economic policy in Boston, and today we’re looking at the latest round of international economic summits. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X (formerly known as Twitter) via @economics. And if you aren’t yet signed up to receive this newsletter, you can … Read more
The U.S. dollar has been king in global trade for decades — not just because the U.S. is the world’s largest economy, but also because oil, a key commodity needed by all economies big and small, is priced in the greenback. Most commodities are also priced and traded in U.S. dollars. But since the Federal … Read more