World Trade - September 2008 - (Page 5) VOLUME 21 Inside NUMBER 9 September 2008 30 FEATU RES 16 E XE C UTI V E B R I E F I N G 10 Supply Chain Watch 12 Tradewinds A Shift in Supply Chain Strategy Global U.S. firms are looking ‘homeward’ to beat the current business climate. By Lara L. Sowinski 22 Will the Oil Crisis Fuel Near-Sourcing Higher transportation costs are eroding low-cost overseas manufacturing. By April Terreri COLUMNS INSIDE WORLD TRADE COVER STORY: TRADE FINANCE 30 7 The State of World Trade and the State of the States The challenges of globalization. By Neil Shister Trade Finance Holds Its Own Amidst the Credit Crunch But risk is being re-priced and customers are feeling the pinch. By Richard Barovick POLICY PERSPECTIVES 34 Trade Finance Case Study Creative ways to finance overseas sourcing. By Joseph Ingrassia and John Rice 8 Obama or McCain: What’s the Difference for Trade? The new President will need to forge a trade policy that, at present, is not clear. By Robert Kyle 38 The Hidden Cost of Open Account Sometimes the administrative costs outweigh the benefits. By David Gustin GREAT MOMENTS IN WORLD TRADE 42 U.S. Ports Clean Up Their Act Undoing the ‘perfect storm’ of maritime transport and air pollution. By James S. Cannon 54 Back to the Future The Chicago Board of Trade was the model for every derivatives exchange worldwide. By Jeremy N. Smith SPECIAL SECTION: SECURITY 46 The Benefits and Challenges of Electronic Customs Filing A primer for shippers who face myriad post 9/11 security regulations. By Oryst Dydynsky and Robert Foley 48 Five Surprises from a Trade Compliance Application The solutions are a great tool, but there are some adjustments to make. By Giridhar Gopal Nagarajan 50 Into Thin Air: The Growing Risk of Cargo Theft Here are the steps you can take to reduce your risk. By Barry Tarnef WORLD TRADE (ISSN 1054-8637) is published 12 times annually, monthly, by BNP Media II, L.L.C., 2401 W. Big Beaver Rd., Suite 700, Troy, MI 48084-3333. Telephone: (248) 362-3700, Fax: (248) 362-0317. No charge for subscriptions to qualified individuals. Annual rate for subscriptions to nonqualified individuals in the U.S.A.: $90.00 USD. Annual rate for subscriptions to nonqualified individuals in Canada: $122.00 USD (includes GST & postage); all other countries: $140.00 (int’l mail) payable in U.S. funds. Periodicals Postage Paid at Troy, MI and at additional mailing offices. POSTMASTER: Send address changes to: WORLD TRADE, P.O. Box 2144, Skokie, IL 60076. Printed in the U.S.A. Copyright 2008, by BNP Media II, L.L.C. GST account: 131263923. Change of address: Send old address label along with new address to WORLD TRADE, P.O. Box 2144, Skokie, IL 60076. All rights reserved. The contents of this publication may not be reproduced in whole or in part without the consent of the publisher. The publisher is not responsible for product claims and representations. Canada Post: Publications Mail Agreement #40612608. Send returns (Canada) to Bleuchip International, P.O. Box 25542, London, ON, N6C 6B2. For single copies or back issues, contact Ann Kalb at (248) 244-6499 or KalbA@bnpmedia.com. WWW.WORLDTRADEMAG.COM 5 http://WWW.WORLDTRADEMAG.COM
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