The WTO expects global trade in goods to fall by 9.2% this year

Recently, the WTO released an update on its global trade forecast, which is expected to decline by 9.2% in 2020 and 7.2% in 2021, but is still below the pre-crisis trend. Global trade in goods fell 14.3 per cent month-on-month in the second quarter, the biggest decline on record, but there were some signs of a rebound in the third quarter. Trade volumes in Asia will fall less than in other regions, with exports expected to fall by 4.5 per cent and imports expected to fall by 4.4 per cent.

●The China-Cambodia Free Trade Agreement was officially signed

On december 12, China and Cambodia formally signed the Free Trade Agreement between the Government of the People's Republic of China and the Royal Government of Cambodia. China-Cambodia FTA trade liberalization of goods and market access for services have reached the current highest level of China FTA contracting. Goods. China has given Cambodia a zero tariff on trade in goods of 97.53 percent, and Cambodia has given China 90 percent zero tariff on goods, the highest level in all FTA negotiations between the two sides so far.

●Britain's GDP grew by less than expected by 2.1% in August

GDP grew 2.1 per cent month-on-month in August, according to the Office for National Statistics, although rebounding for the fourth month in a row, but at a much slower pace than market expectations, suggesting that the pace of recovery from the outbreak has slowed. After a record 19.5 per cent contraction in April, UK GDP grew by 2.7 per cent in May, 9.1 per cent in June and 6.4 per cent in July. Britain's GDP fell by 9.2% in August compared with February before the outbreak.

South Korea's exports fell 28.8% in the first 10 days of October

Exports in the first 10 days of October were $9.3 billion, down 28.8 percent from a year earlier, according to data released Monday by South Korea's Customs Agency. Due to the Mid-Autumn holiday, the number of opening days from October 1 to 10 was only 4.5 days, down 2 days from the same period last year. By export destination, exports to China fell by 20.9% year-on-year, exports to Vietnam by 15.6%, and exports to the United States, the European Union, Japan and the Middle East decreased by 33.5%, 27.2%, 36.8% and 53.7%, respectively. South Korea's exports in September benefited from an increase in the number of days of work started, and recovered after a seven-month erration.

Mexico has launched about $14 billion in infrastructure projects

Mexico's government and business community have signed an agreement in the capital, Mexico City, to launch infrastructure projects totalling about 297.34 billion pesos ($14 billion) to boost the economy. The agreement covers 39 projects in the areas of communications, transport, energy, tourism, water supply, sanitation and the environment and is expected to create up to 190,000 jobs. President Lopez said Mexico alone cannot promote economic recovery in the public sphere, and the public, social and private sectors will work together to build an engine of economic recovery.

The four major U.S. tech giants have "suspected monopoly"

The House Judiciary Committee has released an investigation into whether the four technology companies, Amazon, Facebook, Apple and Google, violated antitrust laws. In the report, House lawmakers said Amazon, Apple, Facebook and Google were using their dominance to eliminate competition, stifle innovation and exercise and abuse their monopoly power, calling for the most radical changes to antitrust laws in half a century. If adopted, the proposal could have a huge impact on big technology companies.

The outbreak has accelerated the development of the global payment industry for ten years

Global payments in the first six months of 2020 were down 22% from a year ago because of the Covid-19 pandemic, according to a new McKinsey report. The pandemic has also accelerated existing trends in the payments industry, including the shift to electronic commerce, including digital payments for contactless transactions, instant payments and cash replacement. The crisis has reduced a decade of change to less than a year, putting pressure on all participants in the payment sector to transform and adapt to maintain their position and results.

The ports of Los Angeles and Long Beach experience severe congestion

Ports in Los Angeles and Long Beach are understood to be experiencing severe congestion, which has been severe for the past two weeks. Congestion has led to container delays of an average of more than seven days, increased "waiting times" for card drivers, equipment shortages, terminal closures, etc. The ports of Los Angeles and Long Beach handle about 37 percent of U.S. seaborne imports, while more than 60 percent come from China, and when terminals become congested, the entire supply chain is affected.