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	<title>World Trade &#8211; RFR</title>
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	<description>GLOBAL MACRO AND THEMATIC INDEPENDENT RESEARCH</description>
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		<title>Not exactly party time in emerging markets. Does that matter?</title>
		<link>https://richesflores.com/2017/11/14/not-exactly-party-time-in-emerging_markets-does-that-matter/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Tue, 14 Nov 2017 12:12:56 +0000</pubDate>
				<category><![CDATA[WEEKLY]]></category>
		<category><![CDATA[World Trade]]></category>
		<category><![CDATA[Emerging markets]]></category>
		<category><![CDATA[World trade]]></category>
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					<description><![CDATA[While the USA is entering an extended phase of growth, Europe is...]]></description>
		
		
		
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		<title>When globalization is thrown in reverse</title>
		<link>https://richesflores.com/2014/09/27/when-globalization-is-thrown-in-reverse/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Sat, 27 Sep 2014 13:12:11 +0000</pubDate>
				<category><![CDATA[GLOBAL MACRO]]></category>
		<category><![CDATA[WEEKLY]]></category>
		<category><![CDATA[World Trade]]></category>
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					<description><![CDATA[One of the most striking illustrations of the changes that have occurred since the 2008 crisis is the 180° turn that international trade has made. Once discounted as a one-off phenomenon, reverse globalization has taken an increasingly permanent turn in the past two years. The paradigm shift in the Chinese economy is the main factor behind the trend. The consequences of this sea change are sizeable for global growth, corporate valuations and geopolitical risk. 
]]></description>
		
		
		
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		<title>Who still doesn’t have a pair of “Birkies”? Or how Made in Germany sheds stereotypes</title>
		<link>https://richesflores.com/2014/06/18/who-still-doesnt-have-a-pair-of-birkies-or-the-popularity-of-products-made-in-germany/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Wed, 18 Jun 2014 12:56:52 +0000</pubDate>
				<category><![CDATA[Euro zone]]></category>
		<category><![CDATA[THEMATIC]]></category>
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		<category><![CDATA[World Trade]]></category>
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					<description><![CDATA[Retailing, leather goods, shoes…German brands are flourishing in unexpected places. Birkenstocks sandals, which seem headed to becoming the must-have item for the summer of 2014, are the latest trend in a broader movement towards reshaping “Made in Germany”.<br/>

Increasingly present on European shelves]]></description>
		
		
		
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		<title>World Trade: Recovering Without the Emerging Markets</title>
		<link>https://richesflores.com/2014/01/08/world-trade-recovering-without-the-emerging-markets/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Wed, 08 Jan 2014 18:50:59 +0000</pubDate>
				<category><![CDATA[Emerging]]></category>
		<category><![CDATA[GLOBAL MACRO]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[World Trade]]></category>
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					<description><![CDATA[World trade has bounced back a bit since the end of summer. The improving European economy is one big reason. For its part, US demand has been trending more favorably since mid-year. And lastly, Japanese imports are ramping up, posting year-on-year volume growth of 5% in recent months despite significant yen weakening. So the improvement is broadly based and starting to have an impact on activity, at least in the developed countries.<br/>
Which means that, yes, this rosy picture leaves out the emerging countries, which continue to grapple with unusually soft growth in demand for imports. The reason for the anomaly? China is buying less, which is hurting export activity in the other emerging countries; Japan has reasserted itself; and demand for capital goods is sluggish. As a result, the driving force behind intra-regional Asian trade – and trade among emerging countries in general – has slackened considerably]]></description>
		
		
		
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