80 percent of all global trade is transacted through third-party lenders and cargo insurers, but the process is complex, can be costly and many banks find it too risky to support small and medium-sized enterprises (SMEs). Blockchain has the potential to increase transparency, speed and accuracy in assessing risk across the trade finance process, which in turn could expand the supply of credit available for SMEs.
More than one-fourth of Americans work for themselves. There’s no stereotype. Independent workers are spread almost evenly across generations, gender, and geographies from cities to suburbs to small towns and rural America. Will you join their growing ranks?
U.S. footwear production dates as far back as 1750, but today 98 percent of shoes are manufactured abroad. Historically, footwear tariffs have been out of step with the United States’ general approach to free trade. High tariffs on products like shoes hit low-income families the hardest – particularly those with children – as these families spend the highest share of their incomes on home goods that tend to be imported.
Tencent and Alibaba are names you need to know. They are leaders among China’s five Big Tech firms. They are growing fast and starting to rival American giants Apple, Amazon, Alphabet, Microsoft, and Facebook. Whoever among these giants acquires the most consumer information on habits, preferences, spending patterns, and financial behaviors stands to win in our growing global digital economy.
At some point between the start of the Thanksgiving holiday and Cyber Monday, did you reach for your credit card or use another secure payment system like PayPal to make a purchase online? You’re in good company: 259 million Americans routinely buy online. Last year, internet sales in China on “Single’s Day” reached $25.3 billion — $6 billion more than what Americans purchased online over the entire Thanksgiving weekend. In the future, the whole world just might be cashless.
Today’s biggest trade trends in 8 colorful and easy-to-share charts. Topics include world’s largest importers and exporters, China’s explosive growth, Japanese investment in the United States, global oil flows, and more.
The Kardashians continually extend their dynasty, promoting their own products while recommending others on social media using Snapchat, Instagram, and Twitter. They’ve also created their own apps, in their own images, to push their own line of products. Love them or hate them, the Kardashians’ countless business ventures are stimulating both the global app economy — and the larger world economy.
One result of the widespread acceptance of e-commerce and home delivery is a growing and urgent demand for drivers – at least for now.
Etsy, the online marketplace for handmade, vintage, or other unique items, is one of many popular Internet platforms where individual creators can sell their works. Nearly 15 million Americans earned a collective $6 billion using just nine of these platforms. Millions more did the same worldwide. And now many of these creators are also global traders.
In the wake of Psy and other K-Pop stars comes the next South Korean culture wave in the form of a 12-step regimen known as K-Beauty. Thanks to trade, more Americans every day are slathering exotic ingredients such as snail mucus, starfish extract, and donkey milk on their faces.