Russia's GDP has now ranked fourth globally! It seems that the more they fight, the richer they become. Remember a few years ago when Russian President Vladimir Putin boldly declared that during his new term, he would lead Russia's GDP into the top five in the world? Many people thought it was a pipe dream at that time. However, after carefully reading some of Putin's words, we realized that he was not referring to the conventional ranking of GDP. In terms of conventional GDP, Russia's GDP is roughly comparable to that of Guangdong Province in China, placing it around eleventh or twelfth in the world. However, what Putin referred to was GDP based on purchasing power parity (PPP). This calculation method is considered to better reflect a country's actual economic strength. According to the latest data based on purchasing power parity GDP, China has long ranked first globally, followed by the United States in second place, India in third, and Russia now ranks fourth! Wow, this is quite an impressive achievement, exceeding Putin's expectation of being fifth in the world.  Moreover, did you know that even according to traditional GDP calculations, Russia has maintained a growth rate of over 4% during the past two years while simultaneously engaging in warfare? This growth rate is higher than that of the United States during the same period and significantly outperforms Germany and France. Many people say that during the two-plus years of the Russia-Ukraine war, the United States has been draining resources from both Russia and Europe. But Russia is resilient and strong! Even with ongoing resource depletion, its purchasing power parity GDP has surged to fourth globally. In contrast, countries like Germany and France are facing increasingly dire circumstances. So, many people are asking why Russia is getting richer despite the war. The answer is twofold: First, Russia's economy is like a fortress, with sufficient energy resources. Oil and natural gas are hard currencies! Just because the West doesn't buy them doesn't mean the East won't. Therefore, the idea of blockading Russia by refusing to purchase its energy is simply impossible.  On the other hand, the West actually aims to create economic chaos in Russia. What does this mean? By denying Russia all goods, the West hopes to replicate the internal collapse of the Soviet Union, where citizens would line up daily, and supermarket shelves would be empty. However, Russia has external support! The markets vacated by the West have been completely filled by Chinese products. From cars to machine tools, from food to various light industrial products, the Russian people suddenly discovered that Chinese goods are not only affordable but also abundant!  As a result, many Chinese students studying in Russia feel a bit dazed while shopping in supermarkets, wondering if they have stepped into a different country. Why? Because all the products in the supermarket are made in China! Yes, today we are ...

According to customs statistics, in the first three quarters, China's import and export reached 32.33 trillion yuan, a year-on-year increase of 5.3%. Among them, exports were 18.62 trillion yuan, an increase of 6.2%; imports were 13.71 trillion yuan, an increase of 4.1%. It mainly presents the following characteristics: First, the total value of imports and exports has reached a new high, and each quarter is above 10 trillion yuan. In the first three quarters, it exceeded 32 trillion yuan for the first time in the same period in history. The imports and exports in each quarter are 10.15 trillion yuan, 11 trillion yuan, and 11.17 trillion yuan. It can be said that each quarter exceeds 10 trillion yuan, and three quarters exceed 32 trillion yuan, which is a first in the same period in history. Second, all types of business entities remain active, and private enterprises achieve relatively fast growth. In the first three quarters, the import and export of private enterprises in China was 17.78 trillion yuan, an increase of 9.4%, accounting for 55% of the total foreign trade value, an increase of 2.1 percentage points; the import and export of foreign-funded enterprises was 9.53 trillion yuan, an increase of 1.1%. It has been growing for two consecutive quarters; the import and export of state-owned enterprises was 4.95 trillion yuan, an increase of 0.1%. Third, the steady progress of market diversification. Trade with more than 160 countries and regions around the world has achieved growth. The import and export to countries jointly building the "Belt and Road Initiative" was 15.21 trillion yuan, an increase of 6.3%, accounting for 47.1%; the import and export to other member countries of the RCEP was 9.63 trillion yuan, an increase of 4.5%. Among them, the import and export to ASEAN was 5.09 trillion yuan, an increase of 9.4%. In the same period, the import and export to the European Union and the United States were 4.18 trillion yuan and 3.59 trillion yuan respectively, an increase of 0.9% and 4.2% respectively. Fourth, the structure of export products is optimized, and the export of high-end equipment increases by more than 40%. In the first three quarters, China's export of mechanical and electrical products was 11.03 trillion yuan, an increase of 8%, accounting for 59.3% of the total export value. Among them, the export of high-end equipment increased by 43.4%. The exports of integrated circuits, automobiles, and household appliances increased by 22%, 22.5%, and 15.5% respectively. In addition, the export of traditional labor-intensive products was 3.13 trillion yuan, an increase of 2.8%. Fifth, the imported products are rich and diverse, and the import volume of bulk commodities increases steadily. In the first three quarters, the import volume of bulk commodities in China increased by 5%. Among them, 901 million tons of energy products such as crude oil, natural gas and coal increased by 4.8%; 1.138 billion tons of metal ores such as iron and...

Many in the foreign trade industry are deeply feeling the intense competition now. What do you gain by only doing exports and not focusing on domestic sales? Mental exhaustion and a vicious price war. A piece of land, whether farmed by one person or ten people, produces almost the same amount of crops. The more people involved, the poorer it becomes. As long as a certain industry or market makes good money, many people will rush in like crazy. Once there are too many participants, competition naturally becomes extremely fierce. Liu Qiangdong once said: "As long as a supermarket makes money, there will be supermarkets opening in every direction—east, west, south, and north—to crazily compete for profits." That’s exactly how it is, no exaggeration. Foreign trade companies have moved into third countries. Chinese people are now directly going abroad to compete for business with their customers. Bill had been working with his Mexican client for several years, sometimes generating tens of millions of orders annually. In a recent chat, he asked the client why there were so few orders, and why new product development had stalled halfway. The client said that his customers recently told him they wanted to shift focus to other businesses. Chinese foreign trade companies are now stationed locally, visiting the end customers repeatedly. These companies ship large quantities of goods to the local market and then sell them at very low prices to different retail outlets.  Since these Chinese companies don't need to pay taxes on imports, Bill’s client, as a middleman, simply cannot compete on price. Chinese foreign trade companies are now taking their competitive pricing overseas, cutting off Bill and his middleman client. Business is getting harder year by year, and the sense of crisis is overwhelming. Bill feels: Fewer competitors, and foreign trade would be easier. Products undercut by low prices: Zhang was the first to get hold of a new product and listed it on Amazon, pricing it at $45. In the beginning, he got 5-6 orders a day, sometimes more than 10. But in a few days, a bunch of others started selling the same product. His competitors directly cut the price to $15, which wasn’t even enough to cover costs. Who would still buy the more expensive one? "Foreign buyers don’t lack spending power; they could easily pay $45. It’s just that the competitors are too ruthless." As a result, Zhang had to keep lowering the price. After the price drop, getting one or two orders a day was good; sometimes, there were no orders at all. In June, his new listing made $20,000 in sales, but by July, sales dropped by about two-thirds. Zhang thinks: Fewer competitors, and foreign trade would be easier. When customers learn to use Pinduoduo: Linda’s customer recently learned how to use Pinduoduo. After much inquiry, the customer finally admitted they found a supplier on Pinduoduo offering products for less than half of Linda’s price. Linda's price: $25. The customer: “How ...

Another foreign trader has been severely impacted by Argentina.   Last night, my friend H received a message from a client, who stated that since December of last year, a new policy in Argentina requires payment for a shipment to be made in four installments:   First payment: 30 days after the client receives the goods   Second payment: 30 days after the first payment   And so on... This means it takes a total of 120 days to pay the full amount, and it's a case of "goods first, payment later"...   The difficulty of receiving payments from Argentina has become the most frustrating issue for foreign traders in the Argentine market, as they live in fear of not receiving their money.   H is worried; does this mean losing a major client? Is it impossible to tackle the tough issue of "Argentine payments"?   The goods have been shipped, the payments cannot be recovered, and foreign traders are suffering.   I asked another friend in the Argentine market, and the situation is not optimistic either.   In November of last year, Mr. Liu’s old Argentine client, whom he had worked with three years ago, placed an order for over $30,000.   In previous collaborations, the client had a good credit history.   However, due to Argentina's foreign exchange controls, the client said they could only pay after receiving the goods.   Because Argentina has upgraded its foreign exchange control, importers with B-type SIMI permits need to apply to enter the foreign exchange market for trading 180 days after completing customs clearance.   Since this client had worked with Liu before, his company agreed to allow payment after the goods were received.   According to the contract, the client was supposed to make payment on April 1 this year, but the client has continuously postponed the payment date, originally promising to pay in early April, early May, and by the end of June, but they still haven’t paid.   During this time, before April, the purchasing agent A, who had been in contact with Liu, left the company, and A handed over the payment issue to the new purchasing agent B.   B's last promise for payment was by the end of June, but when Liu contacted B again in early July, he found that B had also left. Even more frustratingly, B did not hand over the payment issue to the new purchasing agent C, leaving Liu feeling quite disheartened.   The shipper called the client’s company and finally got in touch with the new purchasing agent C. After understanding the situation, C said they would resolve the payment issue.   Last night, Liu received an email from C, who promised that payment would not be possible for at least another 90 days. How can Liu trust that C will make the payment on time after 90 days?   In less than a year, they have changed purchasing agents three times, and such frequent personnel changes may indicate that their company has experienced significant...

Recently, a heartbreaking piece of news has caused a huge uproar both domestically and internationally: Two foreign trade personnel were kidnapped during a business trip to the Philippines. After the kidnappers received a ransom of 3 million, they still cruelly killed the victims. According to insiders, the two victims belonged to two different medical device companies and were both mid-to-senior management personnel. They met a Chinese woman named "Li Na," who claimed to be a Philippine agent, at EuroPCR in May and were invited to the Philippines for a visit, hoping to further expand the overseas market. They were kidnapped right after getting off the plane and tragically met their demise.                     A Carefully Woven Trap There are many speculations about the incident. Both individuals were successful in their careers and were experienced and cautious, so why did they still fall into the kidnappers' trap? In the highly specialized and competitive medical device industry, every company strives for survival and development. Seeking new market growth points, going overseas has become the current choice for most medical device companies. Moreover, the medical device field is highly professional and closely linked with the government, making market entry barriers very high. However, at a professional exhibition, they encountered a carefully woven trap. The English used in the medical device industry is specialized and obscure. Attending professional conferences in Europe indicates that they must understand industry knowledge and have a high level of English proficiency. This incident also exposed the problem of verifying the identity of foreign clients. Domestically, clients' identities can be verified by requiring them to submit three certificates and other licenses. But abroad, there are no such licenses to judge clients' real identities and backgrounds. When a carefully arranged potential client (scammer) sends a luxury car to pick up foreign trade personnel to visit a well-connected big boss's house, would you really refuse?            Safety First, Then Make Money Many people claim that this situation is unsolvable, saying that business trips to meet clients are normal in foreign trade. Past events are already gone, but they profoundly warn foreign trade personnel to always be cautious. Firstly, do not easily reveal your detailed itinerary to unfamiliar clients. For example, communication content should not specify the exact date, flight, or hotel information. Try to share your real-time location and information with colleagues, family, or friends. Secondly, ensure travel autonomy. Drive yourself (rent a car, hotel car service, regular taxi, ride-sharing with trackable trips) to visit clients, and avoid taking the client’s car. Finally, arrange meetings in office buildings or formal locations. Generally, whe...

We are deeply saddened and to learn about the tragic loss President Ebrahim Raisi in the recent crash. On behalf of our entire company, we extend our heartfelt condolences to you, the people Iran, and to the family and loved ones of President Rais.   President Raisi's sudden departure is a significant loss not only for Iran but also for the global community He served his country with dedication and commitment, and his contributions to Iran's progress and development will always be remembered. As a respected leader and statesman, President Raisi played a vital role in shaping the nation's policies and priorities, and his absence will be deeply felt.   During his tenure, President Raisi worked tirelessly to strengthen Iran's economy and promote international trade relations. His efforts to build bridges and foster cooperation were commendable, and we have been fortunate to have had the opportunity to work closely with our Iranian partners under his leadership.   At this difficult time, we stand with you, our valued Iranian clients and friends, offering our support and solidarity. We understand that the loss of a leader is not only a personal tragedy but also a moment of national reflection. We hope that, through unity and resilience, Iran will navigate through this period of grief and continue its path towards prosperity and success.   As a foreign trade company, we remain committed to our partnership with Iran and will continue to provide you with the highest level of service and support. We understand that navigating through such a challenging time can be demanding, and we are here to assist you in any way we can.   Once again, we extend our deepest sympathies to all of our Iranian clients and the people of Iran. May President Ebrahim Raisi's legacy always be remembered, and may his vision for a prosperous Iran endure. Our thoughts and prayers are with you during this period of mourning.   With heartfelt condolences,

The global economy has indeed begun to show signs of recovery. The International Monetary Fund (IMF) that the global economic growth rate will reach 2.9% in 2024, demonstrating a steady upward trend. With the effective of the pandemic, economic activities in various countries are gradually returning to normal, and the global supply chain is also gradually being repaired. Industries such as the service sector and manufacturing industry, which experienced severe impacts during the pandemic, are beginning to recover gradually. Especially in industries heavily affected by the pandemic, such as tourism and catering, and in manufacturing with increasing production capacity and order volume. Emerging markets and developing economies are playing an increasingly important role in the global economic recovery, and it is expected that their economic growth rates will be higher than those of developed economies, becoming an important driving force behind the global economic recovery. In addition, data released by the China Federation of Logistics and Purchasing shows that the global manufacturing Purchasing Managers' Index (PMI) reached 50.3% in March, ending a 17-month trend of running below 50% and returning to the expansion zone. This data indicates that global manufacturing is accelerating its recovery, driving sustained economic recovery. Looking at different regions, the manufacturing PMIs of Asia, the Americas, and Europe have all rebounded, with China and the United States contributing significantly to the stable and upward trend of the global economy. However, the global economic recovery still faces uncertainties, including supply chain issues, inflationary pressures, and debt risks. Different countries are adopting various strategies to address these issues, such as implementing loose monetary and fiscal policies, strengthening infrastructure construction, promoting industrial upgrading, and enhancing innovation capabilities to enhance the intrinsic growth momentum of the economy. In conclusion, the trend of global economic recovery is positive, but there are still many challenges and uncertainties in the recovery process.

The southern Malaysian state of Johor may emerge as Southeast Asia's version of Shenzhen, experts say, with the Johor-Singapore Special Economic Zone, or JS-SEZ, expected to boost investments and partnerships between Singapore and Malaysia. On Jan 11, Malaysian Prime Minister Anwar Ibrahim and Singaporean Prime Minister Lee Hsien Loong witnessed the signing of a memorandum of understanding in Johor Bahru city, which aims to develop a framework toward a legally binding agreement on the JS-SEZ. It listed seven initiatives toward building the special economic zone, including implementing a passport-free QR code clearance system for both countries, creating a one-stop business and investment service center, and facilitating cooperation on renewable energy. The JS-SEZ can streamline cross-border trade and investment policies and improve the flow of trade, logistics, people, and technology transfer.