Beijing is on course to boost trade with Africa after granting nine African countries tariff-free access to China, according to the South China Morning Post. The policy, which comes into force on Dec. 1, covers nearly 8,800 items, including, apparel and footwear, agricultural goods and chemical products. Nine other African nations were granted tariff-free access to China in September.
With the rise and rise of “fast fashion”, clothes are becoming cheaper in the world’s wealthiest countries. That’s also making them more disposable, says Semafor. Many discarded garments are imported by developing and emerging economies from Ukraine to Pakistan. Here the map of used clothing imports
The United States wants major businesses to help fund developing nations’ efforts to decarbonize. President Joe Biden’s climate envoy John Kerry hopes to unveil the carbon-credit program at COP27 this week, the @FinancialTimes reports.
The world's wealthiest democracies on Sunday announced a $600 billion global infrastructure initiative to counter China’s push to exert political and commercial influence through massive investments across emerging economies. [G7 unveils $600B plan to combat China's Belt and Road – Politico.eu]
"Asia is losing weight in the role of the world's factory; production and retail must be recalibrated. The Mediterranean will be the dock of long-haul maritime trade," writes the Catholic-inspired newspaper Avvenire. The transport crisis, with the considerable increase in costs, pushes to redraw the maps of world trade", writes Reuters.
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