Latest news with #globalization
Yahoo
2 days ago
- Business
- Yahoo
Trump's Envoy to China Calls Out Threat of Foreign Supply Chains
(Bloomberg) -- The US wants to revamp its trading relationship with China and the world by bringing many critical supply chains back onshore, the American ambassador to Beijing said. Security Concerns Hit Some of the World's 'Most Livable Cities' JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads How E-Scooters Conquered (Most of) Europe Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown NYC Congestion Toll Cuts Manhattan Gridlock by 25%, RPA Reports 'Unfettered globalization has increasingly created single-source supply chain vulnerabilities,' David Perdue, who assumed his post last month, told a dinner in Washington on Thursday. 'We have all witnessed the extent to which our businesses have become overly dependent on China for components, inputs, intermediate goods and even entire supply chains,' he said, adding that American leaders had been 'blind to the hollowing out of many US strategic industries.' The assessment echoes criticism by European Commission President Ursula von der Leyen, who said at the recent Group of Seven meeting that the world is experiencing a new 'China Shock.' Her accusation, which drew a sharp retort from Beijing, took aim at what von der Leyen characterized as China's use of its quasi-monopoly over some sectors as both a bargaining chip and a weapon to undermine competition. Perdue took a more measured view, noting in his comments that President Donald Trump doesn't blame China for pursuing its own national interest. 'President Trump's vision is to have a trading relationship with China that is based on reciprocity, fairness and respect — one in which the United States puts the American people first, just as China does for its own people,' he said via a video message to the annual dinner of the US-China Business Council. In earlier remarks at the same event, China's ambassador to the US, Xie Feng, made a case for America to become a partner and not a rival to his country, calling for the removal of still 'unreasonably high' tariffs imposed by Trump. Xie also argued that the trading relationship between China and the US was a 'two-way street,' and neither side was getting ripped off. While the US had a goods trade deficit with China, American companies generated a lot of revenue in China, which in turn ran a shortfall in its services trade with the US. For Perdue, however, the lopsided commerce between the world's two biggest economies can't go on as before. 'We must remedy the current imbalance in our relationship,' he said. 'If the United States is to pursue its own national interest in global trade while ensuring the dollar's place as world's reserve currency, then our economy cannot be so dependent on foreign supply chains that can be severed at any moment.' Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants The US Has More Copper Than China But No Way to Refine All of It Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
2 days ago
- Business
- Bloomberg
Trump's Envoy to China Calls Out Threat of Foreign Supply Chains
The US wants to revamp its trading relationship with China and the world by bringing many critical supply chains back onshore, the American ambassador to Beijing said. 'Unfettered globalization has increasingly created single-source supply chain vulnerabilities,' David Perdue, who assumed his post last month, told a dinner in Washington on Thursday.
Globe and Mail
2 days ago
- Politics
- Globe and Mail
The G7 is dead – time to move on to the G6
The summit of the Group of Seven is over, but really it was over long before its official ending. It was over before Donald Trump walked out part way through. If you want to know the truth, it was over before it began. It was over because the Group of Seven is over, at least in the sense in which it was originally envisaged: as a club of like-minded democracies, large enough and wealthy enough to be able, collectively, to set the global economic agenda. They're still large and wealthy, albeit not so much in relative terms: where the G7 countries accounted for roughly 70 per cent of world GDP in 1976, the year Canada joined, they now add up to just 45 per cent. What's really changed, however, is that they are no longer so like-minded – or, in one case, democratic. What's changed is that the United States elected Donald Trump. Again. It was possible, just, to pretend there was still a G7, and not a G6 plus one, during Mr. Trump's first term, when he was still, barely, reined in by his advisers. Even then it was somewhat farcical, as at the Charlevoix conference in 2018, when Mr. Trump first signed on to the closing communiqué, then unsigned it – via Twitter, naturally – after Justin Trudeau said something that offended him. Opinion: At the G7, Canada's globalist ambitions put our domestic problems in stark contrast But long before this year's conference, the first since Mr. Trump's re-election, it was evident how difficult it would be to sustain the pretense. Indeed, it was hard to see how Mr. Trump could even be invited. Never mind that, as a convicted felon, he would ordinarily be legally inadmissible to Canada. Never mind, too, that he had spent most of the time since his re-election menacing Canada in various ways, from the imposition (and removal, and re-imposition) of a variety of economy-destroying tariffs to his overt and repeated threats to coercively annex the country. Never mind, last, that he is at this moment attempting, via methods of escalating extremity, to turn the United States into a fascist dictatorship: not normally a ticket into the councils of democratic nations. What the G7 statements released by world leaders say and don't say No, what made this year's meeting of the G7 utterly absurd was that Mr. Trump shares none of the G7's declared aims. It is not merely that he disagrees with the consensus on this or that item on the agenda, or that he prefers a different route to a broadly shared aim. He is fundamentally opposed to everything the G7 stands for, including the G7: the very idea of independent nations attempting to work together for the common good – as opposed to major powers doing whatever they like – is anathema to him. The rest of the G7 are for liberal trade; Mr. Trump is against trade, or at least imports. They are for macroeconomic stability; Mr. Trump is for deficits without limit. They are for the collective defence of the democracies, and in particular for the defence of Ukraine. Mr. Trump is on the side of Russia, and the autocracies. And yet the only thing that the hosts of this year's G7 – Canada, as it happens – could think to do was to carry on as if nothing had changed. To be sure, it was decided in advance that there would be no closing communiqué, to avert another Charlevoix. But otherwise it was to be the same round of meetings, the same list of agenda items. Certainly there was good reason for the G6 to meet – mostly to consider how to deal with Mr. Trump. But the presence of Mr. Trump obliged them to genuflect publicly in his direction, as if he were still an ally and not an adversary; to praise him for his 'leadership,' even as they were privately plotting how to get around the obstacle he presented to their every ambition. It was as if a football team were to huddle with the other team's quarterback. Mr. Trump, for his part, did everything possible to advertise his disdain for the proceedings, and everyone involved. His first act on arriving was to lament that Vladimir Putin was not there, and to suggest that it might be nice in future to include China. He met privately with Prime Minister Mark Carney to discuss those tariffs of his, a meeting so unproductive – Mr. Trump made no commitment to even lower them – that the most it was even claimed to have yielded was an agreement to seek an agreement, which is no agreement at all. And then he left, ostensibly because he had pressing business to attend to re Iran. More likely he was just bored by the sheer pointlessness of it all. I can't say I blame him.
Harvard Business Review
2 days ago
- Business
- Harvard Business Review
How Circularity Can Be a Strategic Response to Tariffs
Globalization is fracturing. Tariffs, trade wars, resource nationalism, and supply chain shocks are no longer rare disruptions—they're the new normal. The past few weeks alone have seen swings in U.S. tariffs and China's shifting stance on rare earth minerals, underscoring a broader trend: global commerce is increasingly volatile, redrawn by geopolitics, climate, and conflict. Trade fracturing goes beyond tariffs, however. Governments are increasingly imposing policies to favor domestic sourcing, to restrict access to critical materials, and to steer trade towards geopolitical allies—all of which companies need to navigate. From Europe's carbon-linked import levies to Indonesia's nickel ore export ban, even recycling laws—over 30 related to critical minerals enacted globally since 2022—look beyond environmental outcomes to advance industrial and political goals. Extended Producer Responsibility (EPR) schemes, for instance, reward companies that keep value creation within national or regional borders. Traditional responses—like dual sourcing and near-shoring—still matter. But an underused lever is the circular economy: reusing, repairing, remanufacturing, and recycling to reduce dependence on volatile global supply chains. Often dismissed as a sustainability play, circularity—done well—is a strategic hedge. It cuts material imports, opens new revenue streams, and builds customer loyalty. And it's a strategy that many firms have quietly embraced to survive and thrive. Take British Sugar, the UK's largest sugar producer. By turning byproducts from sugar production into revenue streams—from animal feed to soil conditioners—the company reduced waste and boosted margins. This shift did not begin as a sustainability goal, but rather a strategic response to changing market dynamics and price volatility. That kind of systems thinking—designing for autonomy, flexibility, and resource efficiency—is now critical for building a durable competitive advantage. Here are four circular strategies to build resilience. Secure Resources Locally Trade barriers and concentrated supply chains make it harder and costlier to access critical inputs. For example, rare earth elements and other strategic minerals foundational to the modern economy are increasingly subject to strategic controls including by the U.S., China, the European Union, and Japan. Circularity helps mitigate this exposure. Urban mining—recovering materials from waste streams—helps companies reduce reliance on volatile import streams, turning waste into tomorrow's resources. Electronic waste alone contains $91 billion in metals. With the right innovations, such closed-loop strategies complement domestic production, while also cutting greenhouse gas emissions by 80%. Companies like Umicore, Rolls-Royce and Cyclic Materials are already capitalizing on extracting critical materials from end-of-life items. Circularity also strengthens the resilience of the clean energy transition. While renewables boosts energy security by reducing reliance on fossil fuel imports, scaling renewable energy also increases exposure of countries to mineral import risks. Solar panel circularity alone could unlock an $80 billion market, helping to secure benefits of decarbonization without trading one dependency for another. Unlock Cost-Competitive Secondary Markets When tariffs drive up costs of imports, companies typically must either pass costs to customers or absorb a margin hit. Circularity offers a third path: the resale of repaired, refurbished, or remanufactured goods. If reprocessing is done locally or in trade-aligned regions, secondary offerings can sidestep tariffs while undercutting new imports on price. Shares of secondhand retailers jumped following the recent U.S. tariff announcement, reflecting anticipation of growing consumer demand. Beyond a pricing advantage, secondary market offerings also extend asset lifecycles and capture value that would otherwise be lost. Companies like IKEA see circular material flows, combined with regional supply chains, as ways to build resilience and cost efficiency ways, if done at scale. Diversify Revenue Through Services Businesses reliant on one-time sales of imported products are vulnerable when trade disruptions delay shipments or inflate costs. Circular service models—subscription, product-as-a-service, or performance-based contracts—shift the focus from selling new units to maximizing revenue from existing assets. Take Swapfiets, which provides bicycles through a monthly subscription, inclusive of repair and maintenance. By designing their bicycles for durability, repairability, and use of recycled materials—core principles of circular design—Swapfiets' bicycles last longer and can be reused across multiple customers, generating more recurring revenue from the same assets. Separately, in electronics, product-as-a-service models could unlock $566 billion in savings globally, while cutting emissions by nearly 15%. Deepen Customer and Supplier Relationships Circularity naturally fosters stronger partnerships. Product-as-a-service and take-back programs transform one-off sales into longer-term engagements and predictable revenue, generate valuable usage data, and incentivize better product design. In uncertain times, deepening trust and loyalty with customers and suppliers can become an advantage. Consider John Deere. The company leases farm equipment embedded with IoT technology that tracks real-time field performance. This data helps refine product designs, reduce material use with modular components, and secures multi-year service relationships with customers. Success required tighter collaboration with suppliers to enable circular design and manage reverse logistics, fostering more integrated, resilient partnerships. . . . If circularity is so advantageous, particularly amidst the rising tide of geopolitical forces, why is adoption limited? Internally, many companies still face misaligned incentives—P&Ls reward unit sales over lifecycle value, while reverse logistics systems remain underdeveloped. Executives may hesitate to back long-payback investments without immediate business cases. Externally, regulatory complexity and classification challenges add friction. Leading firms are breaking through by linking circularity to strategic objectives, build accountability through circular KPIs (like revenue from circular offerings), and prioritize piloting and learning before scaling. Crucially, they treat circularity not as a checklist—but as a transformation.
Zawya
5 days ago
- Business
- Zawya
Shinemage Group Appoints Maye Musk and Song Seung Heon as Brand Ambassadors for Oganacell
Hybrid DNA Brand Accelerates Globalization Strategy HONG KONG SAR - Media OutReach Newswire - 16 June 2025 - On May 20, 2025, Premium derma-cosmetic brand Oganacell named Maye Musk as Cleansing/Mask Ambassador and Song Seung Heon as Brand Ambassador at its global launch in Hangzhou. The event showcased Oganacell's fusion of technology and skin aesthetics. Ambassador Campaign Maye Musk (Oganacell Cleanser/Mask Ambassador) fronts the "Dust It Off" campaign, stating: "Oganacell helps me reconnect with myself through cleansing rituals and gives me 20 minutes of relaxation everyday." Song Seung Heon (Oganacell Brand Ambassador) noted: "Skin recalibration isn't fighting time, but letting skin find its rhythm." Founder of Oganacell: Dr. Oh Gana champions "skin recalibration" through personalized regimens. Oganacell is building a worldwide skin database to redefine treatment standards. He says, "The differentiation of Oganacell is that our product research is based on our uinque client group. We have a variety of high-end clients from the royal families, the Chaebol families, Politicians, Governors and artists worldwide. Innovative Products: R&D Head Jung Bok-kyung launched the DERX™ Oxygen Cleansing Series and V-mode Contour Recalibration Series – clinically proven formulas replicating in-office procedures. Immersive Launch Experience Global Impact: The event united 1,000+ top beauty professionals, influencers, buyers, and consumers from 10+ countries, reaching over 100 million globally, marking a definitive global beauty moment. Highlights included: · A "Future Skin Recalibration Space" with holographic consultations and interactive diagnostics. · Oganacell dermatologist group live consultation. · AI photo experiences. Hangzhou not only marks the launch of the Oganacell brand and also the global journey of Shinemage Group. Hashtag: #Oganacell The issuer is solely responsible for the content of this announcement. Oganacell
