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Japan Is No Longer the No. 1 Auto Exporter
Japan Is No Longer
the No. 1 Auto Exporter
the rundown

Japan Is No Longer the No. 1 Auto Exporter

China takes the title with its surging industry

(Newser) - Japan has long been the world's top exporter of automobiles, but that reign is now over. China has overtaken it for the No. 1 spot, and it's no blip—Beijing's lead is expected to "solidify" in 2024, reports the South China Morning Post . The Wall Street ...

There's an 'Animal Welfare Disaster' You Don't Know About

Vox takes a look at the export of live animals, particularly by sea

(Newser) - It's an "animal welfare disaster" that's gone largely "unnoticed by the public," writes Sophie Kevany in a piece for Vox that details the issue at length: animals exported alive to other countries. That may sound relatively innocuous, but the reality of these transfers, particularly those...

10 of the World's Most Surprising Major Exports

Milk powder, not hobbits, is king in New Zealand

(Newser) - Did you know 40.9% of Haiti's exports are knit T-shirts? Using data from the Observatory of Economic Complexity, the Telegraph broke down and mapped out the major export from every country in the world—with some surprising results. Here are 10 of the most unexpected top exports in...

'China's Walter White' Tried to Solve Australia's Drug Dearth

$600K-per-month make-and-export business was going well until he got busted

(Newser) - A 46-year-old chemistry professor identified only as Zhang, but who Time notes has been called "China's Walter White" in reference to the lead character of AMC's Breaking Bad, was convicted Tuesday of whipping up and selling 32 kilos of drugs—though prosecutors think the amount produced was...

Ex-CEO of Texas Tech Firm Admits He Was Russian Agent

Alexander Fishenko pleads guilty to illegal shipping of high-tech product to Russia

(Newser) - The ex-CEO and owner of a now-defunct Houston microelectronics company could be sentenced to more than 100 years in prison after pleading guilty yesterday to being an unregistered Russian agent, accused of illegally exporting high-tech product worth millions to his home country over a 10-year period, the Wall Street Journal ...

In 40-Year First, US Paves Way for Oil Exports

Administration allowing two firms leeway on 1970s ban

(Newser) - Since the 1970s, the US has largely banned the exporting of unrefined oil. But the rules put in place after that decade's Arab oil embargo are changing: The Commerce Department is allowing two companies to export condensate, a form of ultralight oil that can be turned into gasoline, diesel,...

Japan PM Chucks Ban on Exporting Weapons

Country looks to maintain regional power balance

(Newser) - In 1967, Japan banned weapons exports—first to selected countries, then worldwide. Now, PM Shinzo Abe is ditching those rules, the New York Times reports. A key reason: As China exhibits growing military strength, Abe wants "to maintain the balance of power in the region," an expert says....

China Tops US in Global Trade

Chinese end America's post-war trading dominance

(Newser) - Hello, empire? China announced that it has surpassed the US in at least one economic category, becoming the world's top trading nation in goods. China says that last year its combined imports and exports barely edged out America's, $3.87 trillion to $3.82 trillion, the Guardian reports....

Manufacturing Orders Slump in Asia, Plunge in Europe

Leading indicator reveals Western economies may be worse than thought

(Newser) - Purchasing Managers' Index reports from Asia and Europe—a critical economic indicator—showed big drops in June, in a strong sign that the economies of Europe and the US could be weaker than thought, the Guardian . Despite European leaders agreeing on a bank bailout scheme last week, Europe's PMI...

US, South Korea Cut Trade Deal
 US, South Korea 
 Cut Trade Deal 

US, South Korea Cut Trade Deal

Could mean tens of thousands of jobs for US

(Newser) - The Obama administration has completed a free-trade agreement with South Korea that it expects to jack US exports by billions and create at least 70,000 jobs. The deal, the largest since NAFTA 16 years ago, was reached yesterday after trade reps for both sides reached a deal on automobile...

China Overtakes Germany as World's Largest Exporter

Rebound to spur calls for currency revaluation

(Newser) - China's exports rose 17.7% in December, ending a 13-month drop in trade and stealing the title of 'world's largest exporter' from Germany. The year-on-year surge is seen as a sign that China's hard-hit manufacturers have made it through the financial storm. But it's not all good news for China,...

China Accuses US of Dumping Chicken, Auto Parts

Latest targets: chickens and tires

(Newser) - US-China trade tensions escalated yesterday when Beijing announced it was investigating whether the US dumped auto parts and chicken products onto the Chinese market, the LA Times reports. An expert calls the retaliatory move, which comes days after the White House slapped a 35% import tariff on Chinese tires, "...

Economy Shrinks Faster Than Expected in 1st Quarter

6.1% pace fueled by biz cutbacks, export drop

(Newser) - The US economy shrank at a worse-than-expected 6.1% pace at the start of this year as sharp cutbacks by businesses and the biggest drop in US exports in 40 years overwhelmed a rebound in consumer spending. Today's Commerce Department report dashed hopes that the recession's grip on the country...

China-India Friction Rises Amid Downturn

But tensions persist between two boom economies

(Newser) - With US demand shrinking, China is looking to India to keep its exports buoyant and buy everything from iron ore to stuffed animals. But although China is its largest trading partner, India's not happy: this year it banned toy imports for safety reasons, and the country has lodged a dozen...

The Next Economic Victim: Globalization
 The Next Economic 
 Victim: Globalization 

The Next Economic Victim: Globalization

Plunging exports, protectionism undercut 'golden age'

(Newser) - World trade has quadrupled since 1982, but economic woes are eating away at globalization’s “golden age” as exports fall, foreign workers head home, and governments seek to protect their own, the Washington Post reports. “The collapse of globalization is absolutely possible,” said a US economist. “...

Sony Swings to First Annual Loss in 14 Years

Global downturn, strong yen reverse earlier expectations

(Newser) - Sony announced today that it would go down to its first annual loss in 14 years, after having forecast just months ago that it would turn a profit. The Japanese electronics giant said it expected to lose $1.7 billion, the result of declining demand from the global recession. The...

Mexico Halts Shipments From Top US Meat Plants

Move is seen as retaliation for country-of-origin labeling initiative

(Newser) - Mexico has temporarily banned meat from 30 US plants run by some of the largest American meat companies, Reuters reports. The Mexican government says violations in standards of packaging, labeling, and transport conditions occasioned the ban, but many US analysts suspect Mexico is registering its dissatisfaction with an American law...

Plunging Exports Roil Asia
 Plunging Exports Roil Asia 

Plunging Exports Roil Asia

Declining global demand sends shock across the continent.

(Newser) - Asia, the manufacturing powerhouse of the last few decades, is experiencing a plunge in exports unprecedented in modern history, the Washington Post reports. Japan, the world’s second-largest economy, reported yesterday that exports dipped 27% in November, while Thailand’s exports shed 19%, the most in 17 years. Taiwan’s...

Surging Whiskey Sales Inspire Eco-Distillery

Demand for whiskey hits an all-time high

(Newser) - Worldwide demand for whiskey has prompted Scotland to start building a new eco-friendly distillery, the Guardian reports. The huge, industrial-scale plant will emit only 15% of the usual CO2 and recycle all of its water; its leftover liquids will be used to generate heat. "The important point is that...

Chinese Exports See First Drop in 7 Years

Unexpected 2.2% fall has analysts fearing major crisis for powerful economy

(Newser) - China’s exports have taken a sudden, unexpected hit from the global economic crisis, possibly an early indication that the world’s fourth-largest economy is on the verge of crisis. Exports, expected to rise at least 15%, shrunk instead by 2.2%, marking the first such fall in 7 years...

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