Services represent just under 50% of gross domestic product in China compared with 63% in Russia, 70% in Brazil, and 52% in India. China could rebalance export oriented growth if it adopts a more open and transparent services economy.
Members of the World Trade Organization (WTO) negotiated the 2014 Trade Facilitation Agreement (TFA) to expedite “the movement, release and clearance of goods, including goods in transit.”
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