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Articles on Trade

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China and the U.S. compete to be the world’s largest economy, but the dollar dominates the yuan as a currency. peng song/Moment Collection/Getty Images

War in Ukraine might give the Chinese yuan the boost it needs to become a major global currency – and be a serious contender against the US dollar

Despite China’s economic power, the yuan lags as a major global currency. Here’s why current US interest rates and sanctions on Russia may change that.
Activists in Dhaka demand safe working conditions in 2019, on the anniversary of the Rana Plaza collapse. Mamunur Rashid/NurPhoto via Getty Images

Fast fashion still comes with deadly risks, 10 years after the Rana Plaza disaster – the industry’s many moving pieces make it easy to cut corners

Ten years after the collapse at Rana Plaza in Bangladesh, the garment industry’s deadliest disaster, reforms are incomplete. The opaqueness of today’s complex supply chain is part of the problem.
Cargo ships anchored in the Marmara Sea await to cross the Bosporus Strait in Istanbul, Turkey. The country is checking all ships’ protection and indemnity insurance coverage before letting them enter its waters, a blow to Russia amid smart new western sanctions. (AP Photo/Khalil Hamra)

Smart sanctions for a stupid war: The West finally gets clever about Russia

Just like how tax evasion brought down Al Capone, denying Russian ships protection and indemnity insurance could deliver a crushing economic blow to Vladimir Putin.
A container ship moves up through the winter ice in the St. Lawrence River, near the Port of Montréal. Approximately 8,000 merchant vessels travel the St. Lawrence annually. The importance of the river in all aspects of the economy is enormous and is expected to increase in the years to come. (Shutterstock)

How the St. Lawrence Seaway will continue to become more important to the economy

Approximately 8,000 merchant vessels travel the St. Lawrence each year. Its ports have become the catalysts that link trade, development and industrial innovation.
The right track? Foreign Minister Penny Wong meets with Chinese Foreign Minister Wang during the G20 foreign ministers’ meeting in Bali last month. Johannes P. Christo/Pool/AAP

Can Australia recapture the spirit of middle power diplomacy?

Careful diplomacy rather than uncritical alliances will help steer a course through Australia’s foreign policy challenges.

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