In terms of trade patterns and policies
- Intensified trade bloc formation: Global trade is shifting from comprehensive globalization to trade bloc formation. Regional trade blocs such as the European Union and the United States-Mexico-Canada Agreement (USMCA) are continuously being consolidated and developed. Meanwhile, emerging regional trade agreements are constantly emerging, which means that the global resource allocation and division of labor system will face adjustments.
- Inward-looking industrial policies and supply chain restructuring: To ensure their own industrial security and economic stability, countries have widely adopted inward-looking industrial policies and pursued diversified and resilient supply chains, resulting in the continuous differentiation and restructuring of the global supply chain pattern.
- Increased participation of emerging economies in global governance: The Global South is rising further, and emerging economies are gradually strengthening their status and influence in international trade. They will be more actively involved in the development of the global governance system, including the world trade decision-making system.
In terms of technology and digitalization
- Digital technologies empowering the growth of service trade: Empowered by digital technologies, service trade is growing steadily. Especially in fields such as fintech, remote work, online education, and digital entertainment, it is expected to become a new growth point for global trade in the future.
- Integration of digitalization into the whole process of trade: Digital technologies are permeating all aspects and links of trade, including production, marketing, logistics, and after-sales service, promoting the intelligent, automated, and smart upgrading of trade, improving trade efficiency and transparency, and reducing trade costs.
- Continuous and rapid development of cross-border e-commerce: As an important part of digital trade, cross-border e-commerce will continue to maintain a rapid growth trend. Emerging markets have huge potential and have become an important channel for many enterprises to expand their international business.
In terms of green and sustainable development
- Green concepts running through trade links: Green concepts are more reflected in all aspects of trade, from product design and research and development, raw material procurement, manufacturing, to logistics and warehousing. For example, recyclable resources and degradable materials are adopted, participation in green electricity and green certificate transactions is carried out, and new energy transportation tools are used, etc., in order to reduce the carbon footprint of foreign trade products.
- Strengthened green trade rules and cooperation: Countries are formulating and improving green trade rules and standards one after another. Meanwhile, they are strengthening communication and consultations through multilateral and bilateral channels to expand the market space for green products and promote the development of green trade as a global consensus.
In terms of currency and payment
As developing countries led by emerging economies are accelerating the use of non-US dollar currencies in trade and commodity transactions, the currencies used in international trade payments are becoming more diversified. The frequency and scope of the use of the RMB and other currencies in international settlements are constantly expanding.
