Global Trade And Economic News
- As Reuters reported, the Chinese government has applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, a free-trade agreement that was abandoned by former President Donald Trump. Eleven countries, including Australia, Canada, Chile, Japan, and New Zealand, signed the pact in 2018. After China filed its application last week, Japanese officials said they would have to determine whether China meets the “extremely high standards” of the pact before it could join.
- According to The Associated Press, Japan’s exports increased 26 percent from August 2020 to August 2021, a reading that was well below analysts’ expectations for a 30 percent rise. Exports to the United States rose 23 percent and shipments to Asia increased 26 percent while exports to China were up by only 13 percent.