All articles tagged with #global commerce
PayPal is expanding its crypto payment services, allowing merchants worldwide to accept over 100 cryptocurrencies with significantly reduced transaction fees of up to 90%, facilitating near-instant settlements and broadening global commerce opportunities.
At the Aspen conference, defense and tech industry leaders expressed concerns over the impact of looming tariffs on global commerce and supply chains, amid broader uncertainties in the geopolitical and economic landscape influenced by the Trump administration's policies and unpredictability.
Maersk and Hapag-Lloyd, two major shipping companies, have suspended passage through the Red Sea strait following attacks by Yemeni Houthi rebels. The rebels, backed by Iran, have targeted shipping in an attempt to pressure Israel during the ongoing conflict with Palestinian Hamas militants. The suspension of maritime traffic has raised concerns about the potential spread of the Gaza conflict. The attacks have prompted Hapag-Lloyd to halt container ship traffic until Monday, while Maersk has instructed its vessels to pause their journeys. The US has confirmed that a Houthi-launched UAV struck a cargo ship, causing a fire that was extinguished. The rebels have claimed responsibility for attacking two other ships in the area.
The latest growth figures for China's economy are eagerly awaited, and there are five key things to look for. These include the overall growth rate, the performance of different sectors, the impact of trade tensions, the level of domestic consumption, and the role of government stimulus measures. These figures will provide insights into the health and resilience of China's economy amidst global uncertainties.
The G20, a group of major economies, is expanding in terms of membership but becoming shallower in terms of its impact and effectiveness. Despite its growth to include 20 countries, the G20 is struggling to address pressing global issues such as trade tensions and climate change. Critics argue that the group lacks the necessary political will and consensus to tackle these challenges effectively.
China's economic slowdown is having a ripple effect across Asia, impacting trade and global commerce. The slowdown is causing concerns for countries heavily reliant on Chinese demand, such as South Korea and Taiwan, as well as affecting commodity prices and supply chains in the region. The situation highlights the interconnectedness of Asian economies and the vulnerability of countries to external shocks.
China's recent restrictions on metal exports are causing ripple effects across the chip sector, as the country is a major supplier of raw materials used in semiconductor production. The move is expected to disrupt global supply chains and potentially lead to higher prices for chips, exacerbating the ongoing global chip shortage. This development highlights the interconnectedness of the global tech industry and the vulnerability of supply chains to geopolitical tensions.
Despite talks of a new Cold War between the US and China, trade volumes between the two countries have continued to grow over the past decade, reaching a record high of $689 billion in 2022. However, China is becoming less reliant on trade with the US and its allies, and more on the rest of the world. While the Great US-China Trade War of 2018-2020 saw tariffs on billions of dollars of goods, overall trade between the two countries remains strong, with commerce still king for now.