All articles tagged with #foreign trade
President William Ruto’s directive to ban foreign nationals from petty trade has sparked widespread fear and harassment against migrants in Kenya. While the government later offered a 90-day registration window, the initial order caused a diplomatic crisis with Burundi and forced many families to separate as workers fled the country.
French farmers reportedly attacked foreign trucks and destroyed their cargoes in protest, highlighting tensions in the country's agricultural sector and raising concerns about international trade disruptions.
The German economy contracted by 0.3% in 2023, avoiding a recession but facing challenges from inflation, high energy prices, and weak foreign demand. Analysts predict zero GDP growth in 2024 due to unfavourable financing conditions, declining investment, and tightening fiscal policy. Despite a 0.7% increase in GDP compared to 2019, concerns arise over the economy's slow growth since the pandemic. Industry declined by 2.0% while construction saw modest growth of 0.2%. Household consumption and government expenditure fell, and foreign trade declined despite falling prices. The economy shrank by 0.3% in the final quarter of 2023, and the risk of another recession in 2024 remains high.
Former Brazilian President Lula da Silva has called on BRICS nations to create an alternative currency to replace the dollar in foreign trade, supporting China's efforts to challenge US global dominance. Lula made the remarks during a visit to the New Development Bank, an institution created by BRICS countries, which include Brazil, Russia, India, China and South Africa. Brazil's Finance Minister Fernando Haddad said local currencies are already used in bilateral trade, but the goal is to expand mechanisms that allow trade operations to be settled without the intermediation of a third currency.
Former Brazilian President Lula da Silva has called on BRICS nations to find an alternative to replace the dollar in foreign trade, supporting China's campaign against US global dominance. Lula made the remarks during a visit to the New Development Bank, an institution created by BRICS countries, ahead of his meeting with President Xi Jinping in Beijing.