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.
AI is already changing global value chains and international trade patterns. Trade rules crafted today in the WTO or free trade agreements will play a critical role in further shaping how AI is further developed and deployed globally.
For the two-thirds of Americans who drink at least one cup of coffee per day, it’s nearly impossible to be a true locavore. More than three-quarters of U.S. coffee imports come from just four countries: Brazil, Colombia, Vietnam, and Honduras, countries that have the right climate for growing it.
Whether you bought a multipack of screamers, bottle rockets, and roman candles from a roadside stand, or plan to watch a professionally-designed community display this Fourth of July, chances are the fireworks themselves were produced in China.
Despite the diffusion of drug production globally, a full three-quarters of spending on medicines in the United States is on products that are manufactured domestically, by both American and foreign companies.
One result of the widespread acceptance of e-commerce and home delivery is a growing and urgent demand for drivers – at least for now.
The super powers of the materials in our jeans, suits, and mattresses require textile innovation, something at which American researchers, engineers, and designers in the textile industry excel.
Europe, North America, Japan and Russia are the biggest traditional markets for snowboarding. As the Olympic Winter Games kick off, the industry is hoping new events and even more spectacular tricks will provide “big air” to the sport’s popularity, particularly in Asia.
“I, Pencil, simple though I appear to be…have a profound lesson to teach. And I can teach this lesson better than can an automobile or an airplane or a mechanical dishwasher because—well, because I am seemingly so simple. Simple? Yet, not a single person on the face of this earth knows how to make me.”
The global production of goods can be charted by each stage at which activity occurs and value is added. The great news is that Americans excel at the activities on the production curve that require the most creativity and know-how, and that generate the most profit.