In The News

Reuters: US, Mexico Reach NAFTA Deal; Pressure on Canada

Roberta Rampton and Jeff Mason August 27, 2018
The United States reached agreement on revising the North American Free Trade Agreement, and Reuters reports that puts “pressure on Canada to agree to new terms on auto trade and dispute settlement rules to remain part of the three-nation pact.” The US president said he could put tariffs on Canada if the nation does not join the agreement. The three countries conduct more than $1 trillion in...

Japan Times: Japanese Firms Face Tough Choices as Trade War Drags On

Cory Baird August 24, 2018
The US-China war is disrupting global supply chains, and companies must decide if they will relocate assembly lines away from China, temporarily or permanently, or wait for a compromise. Companies with long supply chains have more adjusting to do, and one petrochemical industry expert warned that recovery will require more time than the period the tariffs are in effect. China and the United...

Forbes: Will Tariffs Cause the US Fish Industry to Flop

Maisie Ganzler August 23, 2018
Another round of tariffs in the US-Chinese trade battle go into effect in September and will increase US seafood prices. About $900 million worth of US seafood is “first caught or raised in the U.S., sent to China for processing, and then subsequently imported back into the U.S. by companies that sell it to American consumers,” explains Maisie Ganzler for Forbes. “The fish was caught in Alaska,...

The Conversation: How Globalization Transformed Mecca Pilgrimage Market

Seán McLoughlin August 22, 2018
Islam requires adherents to travel at last once for the annual Hajj to Mecca in Saudi Arabia. Modern transportation made the journey more feasible, and the number of pilgrims increased from 100,000 in the 1950s to more than 3 million in recent years. Saudi Arabia has imposed restrictions in recent years: Muslim-majority nations are subjected to a Hajj quota of 1,000 pilgrims per million of...

BBC News: Why Only 1% of the World’s Vanilla Is Real

Nancy Kacungira August 20, 2018
The island of Madagascar is the world’s largest producer of vanilla beans. Farmers protect their crops with patrols and mark individual pods while on the vine. The vanilla orchid, a native plant of Mexico, can grow 300 feet tall, but there are challenges: The orchid requires high humidity, shade and moderate temperatures and new plants produce pods after three years. Each flower must be...

New Zealand Herald: New Zealand Bans Home Sales for Many Foreigners

New Zealand Herald August 15, 2018
New Zealand’s Parliament passed a law prohibiting most non-resident foreigners from purchasing existing homes, with exceptions for those from Australia and possibly Singapore due to trade agreements. Supporters hope to reduce rising home prices and homelessness, but Mike Hosking, writing for the New Zealand Herald, calls it one of the government’s biggest mistakes due to a misunderstanding of...

Quartz: Indian Rupee Falling

Nupur Anand August 13, 2018
The US trade war, a US dollar rising in value and the end to low-cost borrowing are prompting emerging market currencies to plunge in value: “Already, higher crude oil prices, a widening trade deficit, and the exit of foreign investors from India have shaved off over 8% from the rupee’s value this year,” reports Nupur Anand for Quartz. “Turkey has been in a rough patch this year, with its...