Although the outlook for world trade remains uncertain, negative factors appear to outweigh positive trends, according to the United Nations Conference on Trade and Development (UNCTAD). World trade: UNCTAD Negative factors: Slower economic growth. Economic growth forecasts for 2023 are being revised downward due to high energy prices,
In 2021, developing economies sent most of their exports to the United States ($1.6 trillion), followed by China ($1.3 trillion) and other Asian economies. In terms of imports, China ranked first (US$1.7 trillion) and was followed by the United States (US$893 billion), with only half of the value
Quantum Computing plans to be the world’s first manufacturer of quantum nanophotonic chips, a plan it continues to advance. The company already produces its own lithium niobate nanophotonic circuits and plans to expand production to meet anticipated demand. Quantum Computing has announced plans to build and operate a
Royal Bank of Canada, Canada’s largest bank, reported that it expects moderate recessions in Canada and the United States in 2023. In 2022, while global inflationary pressures eased as major commodity prices and transportation costs declined from their peak levels, inflationary pressures spread across a wide range of
The Mexican federal government has increased the use of direct awarding as a criterion for awarding contracts in public bids, by amount contracted, according to information from the World Trade Organization (WTO). In a public bidding process in Mexico, contracts for goods and services are awarded according to
The Mexican maquiladora industry is comprised of entities that import raw materials and components duty-free and, in turn, export their finished products, with suppliers paying tariffs only on a value-added basis for work performed in Mexico. Initially established primarily along the U.S.-Mexico border, in-bond plants now operate in