Globalization resilient under geopolitical pressure, DHL
DHL and NYU Stern School of Business announce latest DHL Global Internet Trackerconducted an in-depth analysis of the current situation of globalization. Despite rising geopolitical tensions and uncertainty, globalization remains near all-time highs, increasing the resilience of international trade and economic integration. Also read: Supply Chains: The Twilight of Hyperglobalization Key Insights from Trackers The DHL Global Connectivity Tracker is an extension of the established DHL Global Connectivity report, which measures the cross-border flows of trade, capital, information and people. The current score of 25% highlights that although globalization is at an all-time high, the world is still far from fully connected. The new tool allows users to explore trends by region, geopolitical alliances or individual countries, and enables detailed offline analysis through data and chart downloads. Global trade: the cornerstone of economic stability Global trade continues to drive the world economy. In 2023, 21% of the world's goods and services will be traded internationally, close to the historical high…
Global merchandise trade rebounds in Q3 2024, but geopolitical
According to the latest Goods Trade Barometer report from the World Trade Organization (WTO), global merchandise trade continued to recover in the third quarter of 2024. This marks a rebound in global merchandise trade from its sluggish performance in 2023, with trade growth averaging 0.7% quarter-on-quarter over the past two quarters, or 2.7% annualized. This is very consistent with the WTO's earlier forecast of a 2.6% increase in trade this year. Also read: WTO Director-General warns of rising protectionism and its threat to global trade The WTO noted that trade growth starts to pick up in late 2023 and gains momentum in the first half of 2024, growing 1% in the first quarter and 1.4% year-on-year. The recovery comes after a period of weak demand due to high inflation and high interest rates in major markets. However, the report highlighted that trade growth was uneven across regions. Europe’s performance lagged behind expectations, while other regions performed stronger than expected. The…
How geopolitical forces are reshaping global supply chains
In recent years, geopolitical events have exposed the fragility of global supply chains. The pandemic, the Russia-Ukraine war, and the Israeli-Gaza conflict have all clearly demonstrated the fragility of supply lines. These networks are primarily designed to reduce costs by taking advantage of low-cost labor and materials, but are easily disrupted by geopolitical events. To better understand the dynamics reshaping global trade, TradeBeyond’s new Retail Sourcing Report: Insights and Indicators for Q3/Q4 2024 provides strategic insights into how supply chains are adapting. For example, conflict in the Middle East has made the Red Sea route unviable, forcing container ships to take a longer, more expensive route around the Cape of South Africa. Combined with Asian port congestion that has limited container capacity, container shipping costs are being pushed up to pandemic levels. At the same time, Russia's conflict with Ukraine has led to a change in trade patterns, with Russia cutting back on its large energy exports to circumvent sanctions…
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