General

The black swan of the epidemic continues to spread. Many foreign trade companies are facing issues such as order cancellation or delay, difficulty in developing new customers, skyrocketing shipping costs, and sharply reduced profits, especially small and medium-sized foreign trade companies.

In 2022, just when foreign trade people were under heavy pressure and ready to buck the trend and break the waves, another blockbuster fell - the escalation of the conflict between Russia and Ukraine, which has close trade ties with China, and the foreign trade circle is facing unprecedented risks and risks. challenge. What impact will this situation have on foreign trade companies? How should companies respond?

1. How big is the impact of the Russian-Ukrainian conflict on foreign trade?

As the largest manufacturing country in the world, China will have a great impact on foreign trade companies after the escalation of the conflict between Russia and Ukraine.

1. Exchange rate fluctuations

Many countries excluded some Russian banks from the SWIFT payment system and imposed restrictions on the Russian central bank. After the financial sanctions imposed by the West, the Russian ruble plummeted against the US dollar, falling nearly 30% to a historical low at one point. Non-US currencies such as the euro also fell sharply, which greatly affected the profit margins of Chinese exporters.

2. Logistics is affected

With the deterioration of the situation in Russia and Ukraine, it has a great impact on logistics. Maersk, Mediterranean Shipping, CMA CGM and other shipping companies decided not to call at Ukrainian ports and stopped accepting new bookings in and out of Ukraine. Russia has also closed its airspace over the border with Ukraine, affecting air cargo.

3. Sea freight has skyrocketed

The phenomenon of rising sea freight and hard to find a box has not been completely solved. As the Russian-Ukrainian conflict escalates, seaborne prices may experience more drastic fluctuations. The reason is that, according to statistics, 10.5% of the world's 1.89 million seafarers are Russians, and the other 4% are Ukrainians. Ukraine has entered a wartime state, and the problem of "lack of people" may occur in global shipping at any time, which will greatly affect the shipping price, and ultimately affect the supply chain and commodity prices.

Under the current situation of the epidemic and the escalating conflict between Russia and Ukraine, for foreign trade people, in 2022, it may be necessary to fight inflation while maintaining profits, and go through a new cycle between costs and sales. It is not only the Russian-Ukrainian conflict that makes people worry, the subsequent complex and changeable international situation will still have a chain reaction.

Foreign trade enterprises must stand on the world's economic stage with multiple legs. They can't just focus on the trade chain of one country. They can try to turn their attention to RCEP countries in Southeast Asia and countries in Africa. These emerging market economies have obvious advantages, and with the support of global policies, economic growth is expected to continue to improve. In addition, while developing new markets, it is also necessary to revitalize the company's existing customers and increase the probability of signing orders. Implement the policy of "walking on two legs" and move forward side by side in two ways, in order to reduce the impact of the general environment on foreign trade enterprises.

2. How should foreign trade enterprises respond? How to accurately acquire customers, and how to market intelligently?

The turmoil in the international situation has led to a decline in the economic environment. For foreign trade people, capturing business opportunities and capturing customers is still a big challenge. When foreign trade people stand at the historical node of 2022, they can clearly feel the coming of a new era, and the world pattern and national strategy are undergoing historic changes. Especially under the influence of the epidemic and the international situation, the old business model of foreign trade enterprises has encountered development bottlenecks.

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The Russian-Ukrainian conflict, which has attracted global attention, is escalating step by step, the epidemic is also spreading, and the turbulent foreign trade market environment is intensifying. Where are the way out and opportunities for foreign trade companies?

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