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What to Expect from the next NAFTA negotiations
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According to the Mexican economy minister, the next meeting between the United States, Mexico and Canada officials is slated to begin on December 11, 2017 in Washington. It could witness the three countries reach an agreement on the overhaul of the Northern American Free Trade Agreement (NAFTA). This is against the backdrop of a previous meeting that ended the previous week in Mexico. The meeting witnessed the three countries fail to make substantial breakthroughs on some of the contentious issues. This led to the U.S. president, Donald Trump criticising the meeting for its lack of...

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Practical Advice
Making sure Santa doesn’t deliver a gift-wrapped compliance complaint
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Just what senior managers always wanted – a compliance complaint after the holiday season. Gift giving and receiving is a corporate minefield, from ill-judged secret Santa presents that cause offence to employees, to over-lavish Christmas entertainment from existing or would-be suppliers. 

 

Better be safe than sorry

It’s very difficult to take away a gift that’s already been given, or rescind an invitation acceptance, so the best approach is to make sure everyone is aware in advance of what is and isn’t acceptable. Monitoring for bribery and corruption by...

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Analysis
Italy's Economy Recovers Despite Underlying Problems
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With forecasts of 1.5% GDP growth for the year, Italy's economy continues its gradual recovery after many years of struggle. The country saw a loss of around 9% of its GDP between 2008 to 2013 during the financial crisis. However, recent figures show a 0.4% reduction in unemployment as business confidence grows and Italy benefits from the general economic improvement across Europe. Yet for all the positive signs, structural issues still remain in the economy, which along with future political elections could have a negative impact.

 

Underlying Problems Remain

Italy's economy...

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Comment
China and US Announce Business Deals
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United States President Donald Trump struck a more conciliatory tone on his visit to China then may have been anticipated, ending in an announcement of $250 billion worth of business deals between the two countries. Having been highly vocal on the campaign trail regarding America's overall trade deficit with China which stood at $310 billion last year, he laid the blame with previous American administrations, saying China had to do what was best for its people. However, he did emphasise that the trade imbalance was unfair and one-sided, although he does not seem to have gained any major...

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News
EU Blacklist Could Mean Paradise Lost
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The release of more data concerning the tax arrangements of multi-national companies and wealthy individuals has seen the EU endeavour to step up its efforts to reduce tax avoidance. The so-called “Paradise Papers” contain confidential information from the Bermuda law firm Appleby Group Services Ltd, and although they disclose legal tax arrangements, they are increasingly viewed as an unethical way to divert money which could have gone in to public coffers for spending on public services.

 

A Tax-Haven Blacklist

For the last year, the EU has been discussing a blacklist on...

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News
India and EU Trade Talks Set To Resume
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Representatives from the EU and India will meet in mid-November in New Delhi to try and kick-start long stalled trade talks. Officially termed the Broad Based Investment and Trade Agreement, the respective negotiators will be looking to conclude a broad and comprehensive free trade agreement, talks on which began in 2007. India and the EU have been strategic partners since 2004 and October saw the 14th India-EU summit where other areas of bilateral and regional importance were discussed. However the trade talks have been delayed by a number of issues.

 

Problem Areas

The trade talks...

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Analysis
China’s Place in World Economy
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While all countries are important for the world economy, there are some like China that contribute immensely. China continues to open up and integrate with the rest of the world. This move has seen it become the most important economic driving force globally.

 

China’s Imports and Exports

China imports and exports massively. Exports surpassed imports by 736 billion dollars in 2016, according to Economic Complexity Index (ECI). The country shipped the bulk of its exports to the U.S. Most imports originated from Hong Kong, while the U.S ranked as the third most...

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News
The Revision of the Korus free trade agreement
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In a press briefing held of last week, South Korea stated that it was open to have a discussion with the United States to revise their trade pact Korus that was agreed on back in 2012. This came after a threat by the United States President Donald Trump to put an end to the accord between the two countries if there was no renegotiation.

 

Renegotiations are to come between South Korea and the USA

After a day of multiple discussions, the trade industry of South Korea acknowledged that there was need to amend the trade agreement to assure that there were mutual benefits...

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News
The EU and Canada Launch a Free Trade Agreement Even as Britain Hopes to have a Share of the Benefits
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The Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union has begun to be implemented on 21st September 2017, eight years after the commencement of the initial negotiations. The Agreement aims to improve the trade relations between Canada and the EU. Among other things, the agreement will cut import duties on thousands of products and services between the Canada and the EU member states.

 

A Pioneer Trade Agreement

This is the first trade agreement of its kind between Canada with any G7 country. It signifies the enormous strides that the country...

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News
Germany’s Trade Surplus Is Attracting Further Anger
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It is no secret that Germany is running the largest surplus economy in the world. This has attracted huge criticism from other leaders such as US-President Trump. What is angering these nations is that the surplus is projected to increase and to remain the largest in the world this year.

In 2016, Germany had a surplus of $285 billion – compared to China which had a surplus of $190 billion and Japan's surplus at $170. This trend is expected to continue if a recently leaked forecast by Börner Group (BGA) is anything to go by. In the forecast, it is estimated that foreign...

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