In 2023, Vietnam faced challenges in exports to European and American markets, with total export value dropping by 9.6%. Contributing factors include global economic downturn, reduced demand, and political instability.
With the EUs ban on the Russian company Alrosa, the global diamond industry is seeking new sources of supply. De Beers invests $1 billion to respond to market changes and supply challenges.
In 2023, Chinas automobile production and sales volume reached a new high, exceeding 30 million units for the first time. The export of new energy vehicles has increased significantly, and China is expected to become the worlds largest automobile exporter.
In 2023, South Koreas electric vehicle market witnessed significant changes, with domestic vehicle share dropping to 73.1% and imported vehicle share rising to 26.9%, reflecting new trends in consumer preferences and market competition.
Starting from 2024, the EU will impose a 15% minimum effective tax rate on multinational corporations with annual revenues exceeding 750 million euros, aiming to increase public revenue and strengthen tax fairness.
Worlds top shipping companies reach agreement with Yemens Houthi rebels to ensure safe passage through the Red Sea, potentially shortening Asia-Europe shipping routes and impacting global freight rates.
Qcells has reached a significant agreement with Microsoft to supply up to 12 GW of solar modules to Microsoft over the next eight years, including full services such as design, procurement, and construction. This collaboration aims to accelerate the global transition to renewable energy solutions and promote the clean energy economy. Qcells plans to establish a fully integrated solar supply chain factory in the U.S. to support this goal.
January 5, 2024, 11:47
The China-Nicaragua Free Trade Agreement officially took effect on January 1, 2023, marking a new chapter in economic cooperation between the two countries. The agreement covers goods and services trade, implementing a zero-tariff policy to promote economic exchanges between the two nations.
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