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2020

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09

Trade Risk Alert for September 17


The OECD raised its 2020 global GDP growth rate from -6% to -4.5%. According to the September interim report released by the OECD on the 16th, global GDP is expected to be -4.5% this year, an upward revision from -6% in June. The GDP forecast for China is 1.8%, which is the second year of 2020 The only G10 country with positive growth. Looking ahead, the OECD expects the global economy to grow by 5% in 2021. (China Securities Network)

Thailand's car sales fell for the 15th month in a row, falling 12.1% year-on-year in August. According to CCTV news, data released by the Federation of Thai Industries on the 17th showed that due to the impact of the new crown pneumonia epidemic, which suppressed the demand in Thailand's domestic auto market, Thailand's domestic auto sales shrank for the 15th consecutive month in August, down 12.1% year-on-year. Only 68,883 were sold. Thailand is the center of ASEAN automobile manufacturing industry, and the automobile industry is one of the pillar industries in Thailand. (Securities Times Network)

Australia's unemployment rate fell to 6.8% in August, as unemployment rose in the hardest-hit state. Data released by the Australian Bureau of Statistics on the 17th showed that the country's unemployment rate fell to 6.8% in August from a 20-year high of 7.5% in July. Data show that from July to August, Australia added about 111,000 jobs, of which about 75,000 were part-time jobs. At the same time, the number of unemployed fell by about 87,000, and the employment participation rate rose by 0.1 percentage points to 64.8%. Unemployment in Australia fell to around 920,000 in August from over 1 million for the first time in July. Statistics in Victoria, Australia's second most populous state, fell sharply between July and August, with employment falling by around 42,000 and the unemployment rate rising to 7.1 per cent. (Xinhua Finance)

New Zealand's GDP contracted by 12.2% in the second quarter, officially entering a recession. According to data released by Statistics New Zealand at 6:45 on September 17, the country’s second-quarter GDP shrank by 12.2% quarter-on-quarter on a seasonally adjusted basis, the sharpest quarterly contraction in history, which also means that New Zealand’s economy has officially entered a recession. Compared with the same period last year, New Zealand's GDP shrank by 12.4% in the second quarter, but the contraction was still slightly smaller than the Reserve Bank of New Zealand had expected. The bank forecast a month-on-month decline of 14.2% and a year-on-year decline of 14.4%. (Huitong Network)

Trade remedy investigation warning information. 1. The Ministry of Commerce issued a sample questionnaire on the wine anti-dumping case; 2. India initiated an anti-circumvention investigation into China's trailer axles; 3. Malaysia initiated an investigation into safeguard measures against imported ceramic floor tiles and wall tiles; 4. The US International Trade Commission made a container Preliminary ruling on double-anti-industrial damage to the trailer site and its components, preliminarily finding that the damage exists. 5. Brazil made a preliminary anti-dumping ruling against China's seamless alloy steel cylinders and found that there was no damage. 6. The U.S. ITC issued a final 337 ruling on high-density fiber optic equipment and its components. 7. The U.S. ITC issued a 337 final ruling on reusable folding straws and their components. (Provided by DHH Law Firm)

 

Shandong Provincial Department of Commerce Fair Trade Office

September 17, 2020