The Hinrich Foundation and the National Press Foundation created an annual award in 2019 to recognize excellence in journalistic reporting on global trade.This year’s top honors go to a package of big hitters submitted by Bloomberg News on decoupling, supply chain changes, and artificial intelligence. The old multilateral trading system no longer works. Large, state-controlled economies are increasingly distorting the system. Stewart Paterson asks if the answer might be the regrouping of ‘like-minded countries’ into a new body. Arjun Gargeyas assays how China's supremacy in the electric vehicle industry pose geoeconomic risks to Western producers, particularly Europe. Plus, the Association of Foreign Press Correspondents interviews Keith Rockwell on export controls, and see what we have been reading on APEC's outcomes.
DISTINGUISHED REPORTING
And the winners are…
28 November 2023
Bloomberg News won the 2023 Hinrich Foundation Award for Distinguished Reporting on Trade for a series on a range of the biggest issues in global trade, from AI to supply chain choices and an in-depth analysis on decoupling from China. Judges appointed by the National Press Foundation, which runs the award, praised the Bloomberg team for its “laser-sharp focus on trade issues,” applauding in particular the story titled “War, AI and Climate Change Shake Up $32 Trillion in Global Trade”. The package also included stories that analyze the ongoing fragmentation of the global trading order. The Hinrich Award was created in 2019. Previous winners include Nikkei Asia, The Washington Post, and The Wall Street Journal.
What should a new global trading system look like?
Stewart Paterson 28 November 2023
The changing nature of the international environment for trade means that the institutional arrangements that governed the international economy during the period of the late 20th and early 21st centuries are now outdated. Attempting to regulate the behavior of statist economies is now out of the question given the current geopolitical climate. Research Fellow Stewart Paterson asks if the answer might be the regrouping of ‘like-minded countries’ into a new multilateral body.
The rise of China's dominance in the EV industry and its export strategies are fundamentally changing the operation of the global automotive landscape. The West and other economies have taken steps to prevent the Chinese industry’s further rise. However, Arjun Gargeyas explains in this piece that this competition is ultimately pushing the industry toward a more sustainable infrastructure that could benefit both the environment and consumers worldwide.
In the last decade, especially since 2020, there has been a rise in the use of export restrictions by nations. Though not new, export restrictions are one of the most damaging distortions to global trade and the world economy, Senior Research Fellow Keith Rockwell says in an interview with the Association of Foreign Press Correspondents.
Leaders of Asia-Pacific economies met in San Francisco in mid-November for the APEC Summit and key bilateral and multilateral meetings. What were the trade outcomes of the meetings? Have China’s industrial policy initiatives produced positive results? Explore our reading list for the latest developments in global trade.
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