A race to gain commercial clout in the world’s most populous and fastest-growing region has kicked off—and it is one that China is quietly winning
dropped by 15% and 5% respectively in the five months to June, compared with the same period in 2022, exports to the Association of South-East Asian Nations grew by 8% over the period. The ten-member bloc is now China’s largest trading partner.has made most progress—harmonising rules of origin for goods exports—matters a lot to the complex supply chain that runs across the world’s biggest manufacturing hub.
That will not be thanks to tariff reductions, which are too puny to matter. A recent World Bank study projects that they will raise local real incomes by only 0.07% by 2035. Instead gains will come in the form of improvements in productivity brought about by fewer trade frictions and more liberal rules of origin. The bank reckons trade betweenThere is still time forto catch up.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What does China want from Latin America and the Caribbean?China’s engagement with Latin America has tended to be purely transactional. But its relationship with the region appears to be evolving
Read more »
America and China try to move past a new bump in relationsAntony Blinken, America’s secretary of state, will go ahead with a long-delayed visit to Beijing. That will come as a relief to many other countries, especially in Asia
Read more »
Greater Manchester boy, 12, appears on America's Got TalentGreater Manchester boy Alfie Andrew, 12, gets standing ovation after appearing on America's Got Talent
Read more »
LockBit victims in the US alone paid $90m+ since 2020As America, UK, Canada, Australia and friends share essential bible to detect and thwart infections
Read more »
Joe Biden and Narendra Modi are drawing their countries closerIndia does not love the West. But America needs it—and the two countries’ relationship may be the most important transaction of the 21st century
Read more »