The Shift to Economic Nationalism | Euro Exim Bank Insights

Описание: the shift towards economic nationalization and nationalism is growing in all aspects and includes the following Trade policy industrial policy competition policies foreign direct investment immigration multilateral organizations and macroeconomic policy with no nation immune from their effects Following the recent US elections recent events have also included US tariffs on steel aluminum and electric vehicle exports China's made in China 2025 initiative aims to reduce foreign technology investment and build it themselves and retained its economic sovereignty despite rising costs of production and India The Atmanirbar Bharat self-reliant India campaign looks at curbing imports by building more a home building the infrastructure creating home industry ensuring manufacturing can work and then to export then onwards So a lot is happening through protective policies for almost every country in the world This is designed to attract foreign direct investment in key areas and build competitive infrastructure For example in the EU trying to protect key industries in the block such as pharmaceuticals digital technology and the race for full renewable energy Current measures also include anti-dumping where tariffs have been applied for example to cheap Chinese goods and that again protects the EU manufacturing capabilities for steel and efforts to protect protect industries from cyber security risks as we saw with a ban on certain technologies from companies like Huawei with their 5G technology We've also witnessed a real tit for tax with heavy tariffs on electric vehicles pork tariffs in China and screening of direct foreign investment and again protecting companies from too much investment from abroad so they can continue to be self-sufficient in their own trading blocks and that means that ownership and the competition and infrastructure will be based on local people rather than foreign investors But trade goes on despite a global trade gap of more than $2.5 trillion dollar At EEB Euro Exim Bank our mission is clear and that we are positioned as a key trusted trade finance facilitator providing services to SMMES and corporates that support the right product the right quantity the right condition the right place the right time the right customer all at the right price