Is global trade transforming? | Counting the Cost

The COVID-19 pandemic has laid bare the vulnerabilities of global supply chains. More than ever before, trade routes are being disrupted by geopolitical tensions, climate change and technological advancements. That's forcing governments and companies to rethink how goods and services flow across borders.

Nations across the world are re-evaluating everything from supply chain dependencies to trade partners, based on economic and national security concerns. As a result, protectionism is on the rise. Regional trade blocs are emerging. Production facilities are being moved closer to home. Digital and sustainable solutions are increasingly being adopted.

So, how will this reshape global trade?

#trade #business #climatecrisis #globaltrade #aljazeeraenglish #economy #politics

[isee]

I remember in the 80s and 90s, when small farm holdings which were exporting bananas to Europe had a rude awakening under the "World Trade" so called rules. Every one including illiterate Small farmers were rebuked for being ignorant to the Almighty rules of GATT, the General Agreement on Trade and Tariffs, the precursor to the World Trade Organization rules. The huge fruit companies of America brought a suit against the European buyers stating that it was unfair to guarantee a market to those countries who had signed a trade deal with England and France after independence. The American Multinational Fruit companies won and the rulling mandated that there should be no preferential treatment and that WTO rules should be adhered to. Today America wants to tell us that WTO rules are irrelevant after the destruction of countless lives and livelihoods. In my opinion there never was a Just and fair Global trade system and pretending that this vaunted system needs to be respected, upheld and protected is a hypocrisy. Let it crash and burn all the peoples of developing and poor countries should dance on its grave. The fact is, just like during the Agricultural free trade negotiations the winners were powerful Multinational corporations. And what is going to happen in this era of free trade will be driven by powerful Technology and other Multinational Companies that are trying to maximize their profits through Global trade. Let's not pretend that the system as it is is set up to benefit the masses and accept the fact that Corporations are the architect of all this tourmoil in their quest to seek profit maximization. Yes producing more things for more consumption has positive effects as production and consumption increases globally but that's a bug not a feature. These systems are not intended to benefit the global populace but rather to make the few wealthy.

[tedwong]

My biggest question is, since CNY can buy everything, what if china decided not to sell their products in USD but in their own currency. What will USD worth?

[MarkHayes-di]

I am 44, retiring next year but the thought of retirement gets me uneasy. My apologies to everyone who have retired and filling social security during this time after putting in all those years of work just to loose everything to a problem you never imagined to happen. Its so difficult for people who are retired and have no savings or loved ones to fall back on. I honestly don't want to experience this. Suggestions and ideas will be appreciated.

[unreliablenarrator]

Excellet point all around. Great job here.

[ibrahimdumal]

What do you expect from Trump...the guy who literally Infront of cameras asked why don't we drink the hand sanitizer.

[Jurmyhyle]

Multi lateralism isn’t beautiful like you imply. Theres always been winners and losers. That’s why we’re here.

[rossbaker]

It shocks me that 70+ million people voted for the guy that told them to inject bleach…

[Erik-rphi]

The US tariffs were not to tax the people, the idea was we would not source from China because they cost to much. Not getting stuff from china was always the goal.

[Abdul_Aloha]

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