Since the 2008 global financial crisis developed countries have been trying to repatriate manufacturing and labour-intensive industries in developing countries are facing mounting competition. Meanwhile, trade protectionism is regaining momentum in a number of jurisdictions. Lilly Li, Eric Zhou and Anthony Chau express the concern that these factors make it more complex to analyse and predict the trends of world trades.
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year