Global Trade News
TikTok Follows Amazon By Introducing Logistics
Last updated on November 9, 2023 by Ben Thompson
TikTok ventures into e-commerce logistics, mirroring Amazon's integrated model but outsourcing to specialized providers like ShipBob. With 150 million U.S. users, TikTok aims to keep transactions on its platform, leveraging influencers to drive sales. Regulatory hurdles and building consumer trust pose challenges, but TikTok's move signals a strategic push into e-commerce.
Flexport Acquires Convoy’s Tech Amidst Broader Expansion Goals
Last updated on November 2, 2023 by Ben ThompsonFlexport acquires Convoy's technology stack to bolster its position in global logistics. CEO Ryan Petersen emphasizes the move's significance, aiming to create a one-stop-shop for shipping worldwide. Integration of Convoy's trucking network, comprising 400,000 drivers and 80,000 carriers, promises expanded capabilities for Flexport.
Nvidia Halted From Shipping AI Chips To China
Last updated on November 2, 2023 by Ben ThompsonThe US halts Nvidia's AI chip shipments to China, aligning with President Biden's strategy to limit China's access to advanced technology. Nvidia remains optimistic about global demand but faces potential setbacks. The move escalates the US-China tech standoff, with implications for the broader semiconductor industry.
Russia-India Trade Booms
Last updated on October 26, 2023 by Ben ThompsonTrade between Russia and India has surged, reaching a record US$43.8 billion in the first eight months of the year and projected to hit US$65.7 billion by year-end. Russian exports to India soared to US$41.2 billion, while imports from India also saw a 50% increase. This growth is partly attributed to Russia's pivot towards Asian…
NEOM & DSV’s $10 Billion Game-Changer
Last updated on October 26, 2023 by Ben ThompsonNEOM, a futuristic construction company in Saudi Arabia, partners with logistics leader DSV for a $10 billion venture, aiming to revolutionize ground, sea, and air logistics. This collaboration, aligned with Saudi Vision 2030, promises economic growth and innovation.
Amazon’s Sky-High Ambition: Drones Now Delivering Health to Your Doorstep
Last updated on October 19, 2023 by Ben ThompsonAmazon's Prime Air drone service now delivers medications from Amazon Pharmacy in under 60 minutes, starting in College Station, Texas. This innovative service, free for now, offers around 500 medications for aerial delivery, marking a significant leap in healthcare accessibility and convenience.
The West’s Answer to China’s Belt Road Comes to a Halt With Hamas-Israel Conflict
Last updated on October 12, 2023 by Ben ThompsonThe IMEC, aimed at reshaping global trade and seen as the West's counter to China's Belt and Road, faces delays due to the Hamas-Israel conflict, impacting key trade links and diplomatic efforts in the region.
Droneliner Autonomous Cargo Plane, the Future of Air Freight?
Last updated on October 12, 2023 by Ben ThompsonDroneliner proposes an autonomous cargo plane reducing air freight costs by over 70%, with designs optimized for efficiency and a payload capacity that significantly surpasses current leaders, aiming to revolutionize the logistics industry.
China-Brazil Trade Milestone: First Local Currency Transaction
Last updated on October 5, 2023 by Ben ThompsonChina and Brazil recently achieved a groundbreaking milestone in their trade relations by completing a transaction entirely in their local currencies, the renminbi (RMB) and the Brazilian real. This significant development, facilitated by the Bank of China (BOC), represents a notable shift away from traditional trade settlements conducted in US dollars.
Rice Ban Implications
Last updated on October 5, 2023 by Ben ThompsonIndia's ban on non-basmati white rice exports to control domestic prices impacts global markets, affecting Asia and Africa the most. With India being a major rice supplier, this move raises concerns over food security and price stability worldwide.
