The World Trade Center Miami hosts and organizes Miami World Trade Month annually in May in recognition of the impact international trade on job creation and economic growth in Miami-Dade. We know that many of you have been impacted by COVID-19, some of you are still moving millions of dollars in cargo through our ports and into our community, bringing needed essential equipment and supplies. Thank you for all that you do and for being an important part of Miami’s trade community.
The U.S. ambassador on the spot in an Asian economic powerhouse put it bluntly in a cable to the secretary of state in Washington: Don’t cut them off. Give them some “economic elbow-room,” or they’ll be forced to carve out an economic empire of their own by force. But Washington was in the grip of economic nationalists battling a historic economic downturn. The White House, consequently, was deaf to the Ambassador Joseph Grew’s pleas from Tokyo in 1935.
The slowdowns in GDP reported in the UK, the US and the eurozone in recent days give an idea of the economic impact COVID-19 is having.
For anyone hoping global tech might be the one industry to dodge the economic fallout of the coronavirus, falling shipments from the world’s biggest chip exporter offers little comfort.
Global trade is forecast to fall by a record 27% in the second quarter of the year after a slump in the export of cars, machine parts and oil.
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity…”
As the world gets ready for some type of reopening and what will be the new “normal”, travel and tourism is on top of everyone’s mind.
COVID-19 has put the global food supply chain to the test. While there have been challenges, the sector has and continues to adapt and deliver food supplies to our homes, local supermarkets and around the world.
As the coronavirus changes the face of our planet and how our fashion community operates, the Fashion Business Association of America is working with our global leaders in supporting a new beginning for the fashion and retail industries around the world.