Trading Process Research Articles

The evaluation of non-tariff measures and their effects on the international trade landscape and competitive positioning of Cambodia and Thailand

Thailand has enacted approximately 60% of the 118 Non-Tariff Measures (NTMs) categorized as Class A: Sanitary and Phytosanitary measures, which significantly impacts agricultural exports from Cambodia. In comparison, Cambodia has established only 30 NTMs, representing about 26% of the total NTMs affecting agricultural goods exported to Thailand. This disparity underscores the necessity for a bilateral meeting between the two nations to explore opportunities for reducing NTMs in agricultural trade. Concurrently, Cambodia is making strides to improve the quality of its agricultural products to enhance export potential to Thailand. If these discussions prove fruitful, the trade processes will be streamlined, leading to a substantial increase in the exchange of agricultural products between the two countries. The government should promote private sector investment aimed at elevating sanitary and phytosanitary standards to align with international benchmarks. Specifically, attracting both domestic and foreign investment to establish agricultural product processing facilities will enable the production of finished goods, thereby boosting exports and enhancing product quality. This initiative not only addresses domestic demand for agro-industrial products but also assists in identifying markets for Cambodian farmers.

A system of trading in the foreign exchange market based on multi-criteria optimization under Belief-Plausibility uncertainty

A new Forex multi-criteria trading model based on the Belief-Plausibility (Bel−Pl) extension is developed and validated. The Bel−Pl approach is, in fact, a meta-theory in relation to the classical theory of fuzzy sets FST and the intuitionistic theory of fuzzy sets (IFST). This allows us to use more available information about the simulated process than these theories. The developed model consists of two interconnected, but different parts combined in the automated trading system (ATS). The first part of the Forex trading model is responsible for generating multi-indicator trading signals based on a set of new proposed technical analysis indicators that have been extended in the framework of the Bel−Pl approach. The second part of the model is a multiple-criteria Bel−Pl extended hierarchical trading model estimation. These two parts of the model are combined into the developed ATS, which implements the appropriate optimization procedure at the optimization stages and the simulation of the trading process at the testing or real trading stages. The advantages of the developed model and ATS were shown by comparing their results with the results obtained using fuzzy multi-criteria models and a single-criterion model. All studies were conducted over the past two years (2022-2023) for the H1 and H4 timeframes and three currency pairs EURUSD, USDJPY and GBPUSD.

Stackelberg game-based optimal scheduling of two-level virtual power plant

In order to rationally solve the problem of distributing the interest of each decision-making body in the transaction of virtual power plant (VPP) participating in the energy market, this paper introduces game theory into the VPP energy system (VPPES) and makes a more in-depth study on its joint scheduling on the basis of economy and low carbon. First, this paper constructs a bi-level VPP system with a new type of VPP and studies its optimal operation strategy under the Stackelberg game framework. The strategy takes the energy seller as the leader and the VPP supplier and the loader as the followers, and the upper and lower layers optimize the seller’s pricing strategy, the VPP’s output plan, and the user’s demand at the same time through real-time information exchange and loop iteration. Second, the energy trading process and mathematical model of the bi-level VPP system are introduced, and it is proved that there exists a unique Stackelberg equilibrium in the proposed game model, which is optimally solved by using an improved coyote optimization algorithm combined with a solver. Finally, it is verified through examples that the proposed operation strategy can significantly reduce the generation cost of the VPP and maximize the benefit of the seller and the utility of the loader, so as to realize economic energy supply and scientific energy use, which can provide a new paradigm for the economic and environmental development of the new energy system.

Decentralized Fair Data Trading Scheme based on mCL-ME Primitive

The Internet of Things (IoT) is now used by people, homes, transportation, hospitals, and more, and the data collected from IoT devices is more diverse and vaster. Online data trading or sharing systems are evolving to use this data to create new value or utilize it for financial gain. Traditional online data trading systems rely on trusted third parties to ensure fair trading. However, these centralized trading systems suffer from various problems such as single point of failure and data leakage. Therefore, in this paper, we propose a blockchain-based fair data trading model that does not rely on a fixed trust factor and supports bilateral access rights management. The proposed model is designed in a hybrid way that combines on-chain and off-chain processes to minimize the storage space and performance limitations of the blockchain. Instead of relying on a fixed trust factor such as a trusted third party, we randomly select arbiter nodes during each data trading process, which provides higher decentralization than existing approaches. It also provides data confidentiality by ensuring bilateral access control and provides security in the dispute resolution process. Finally, smart contracts in the proposed model perform only simple computations, resulting in lower overhead and higher efficiency than existing models.

Debt-deflation theory and middle-income trap: system dynamics approach

The article analyzes the theoretical and practical aspects of the theory of the relationship between national debt and deflationary processes using the example of the impact of the economic recession in China on the decline in global economic growth, and determines the systemic effects of the national economy falling into the middle income debt trap and exiting it. With the help of simulation models, which are based on the methodology of system dynamics, the interrelationship of economic processes of global and national economies is presented. It was found that deflation leads to an increase in the price of the existing external and internal debt and inhibits economic growth and economic development of the national economy and is one of the forms of the country’s middle income trap. The use of the scenario approach made it possible to identify the basic options for the development of the world economy under the influence of negative economic phenomena at the national level and to develop appropriate recommendations for middle-income countries to achieve the goals of macroeconomic and financial stabilization with the appropriate access to the trajectory of new economic development.The study found that the factors of education, social and innovative development are of decisive importance in the country’s achievement of the goal of leaving the middle income trap. The economies of such countries as China are unable to independently overcome this trap without further involvement in global integration and trade processes, and at the same time they themselves form deflationary processes at the global level. In addition, the policy of economic and political semi-isolation leads to the destabilization of the existing world economic and financial systems.

Trade as a factor of cultural change: the case of Sardinia

The article, based on field research materials, examines from the anthropological and historical standpoints the origins of trade in the inner mountainous regions of Sardinia, considering it as a factor in changing the worldview of the population of this closed pastoral area. I discuss the specifics of artisanal, domestic, and mainly small-scale commerce and its agents, as well as the range of goods, the attitudes of the locals towards the sellers, etc. I further analyze in comparative terms the aspects of the vision of space and movement in the eyes of the pastoral and peasant populations and the merchants. I argue that the differences between the former and the latter in many ways influenced both the perception of commercial activities in the peasant milieu and the relationship between this milieu and the commercial strata. The research offers novel interpretations, since the issue of endogenous metamorphoses of traditional society, such as that of Sardinia in particular, has not been thoroughly studied up to date in the light of trade processes. Moreover, the research outcomes are relevant due to the fact that many aspects of commerce that had originated in ancient times can be still observed in the present-day trade relations of the region.

A Blockchain and Zero Knowledge Proof Based Data Security Transaction Method in Distributed Computing

In distributed computing, data trading mechanisms are essential for ensuring the sharing of data across multiple computing nodes. Nevertheless, they currently encounter considerable obstacles, including low accuracy in matching trading parties, ensuring fairness in transactions, and safeguarding data privacy throughout the trading process. In order to address these issues, we put forward a data trading security scheme based on zero-knowledge proofs and smart contracts. In the phase of preparing the security parameters, the objective is to reduce the complexity of generating non-interactive zero-knowledge proofs and to enhance the efficiency of data trading. In the pre-trading phase, we devise attribute atomic matching smart contracts based on precise data property alignment, with the objective of achieving fine-grained matching of data attributes between trading parties. In the trading execution phase, lightweight cryptographic algorithms based on elliptic curve cryptography (ECC) and non-interactive zero-knowledge proofs are employed for the dual encryption of trading data and the generation of attribute proof contracts, thus ensuring the security and privacy of the data. The results of experiments conducted on the Ethereum platform in an industrial IoT scenario demonstrate that our scheme maintains stable and low-cost consumption while ensuring accuracy in matching and privacy protection.

The formation of tea culture in British

When foreign people think of British culture nowadays, they can easily picture gentlemen and ladies elegantly dressed, surrounded by fine furniture and utensils, enjoying afternoon tea. The unique tea culture has already become a strong impression of Britain. This article explores the positioning of tea within the map of cultural differentiation, highlighting its status as a significant symbol of British culture, despite Britain not being its country of origin. The success of tea arose from the collision of Eastern and Western civilizations, with Chinese tea being introduced to Britain by Dutch merchant ships in the 17th century, marking its economic rise. The paper raises key questions about how tea transformed from an exotic product into a British cultural icon and whether the promotion of tea culture in Britain is mere imitation or rooted in local traditions. Additionally, it reviews research by Chinese and foreign scholars on British tea culture, focusing on the origins of tea culture in China, including the history of tea cultivation and consumption, and the evolution of tea culture in various dynasties. The second half describes in detail the thriving process of tea trade in Britain since the 17th century, the background of tea culture breaking the gender status and other restrictions in British society, and the different connotations and influences of tea culture in the British upper society and working class.

THE MODERATION ROLE OF E-INVOICING IN NATIONAL TRADE: THE IMPACT OF IT AUDITING ON E-ACCOUNTING INFORMATION SYSTEMS AT JORDANIAN CUSTOMS POINTS

This study investigates the moderation role of e-invoicing in national trade, specifically examining how IT auditing impacts electronic accounting information systems (EAIS) at Jordanian customs points. The primary aim is to analyze how effective IT auditing enhances EAIS effectiveness and explores the implications for operational efficiency and compliance within Jordan’s customs operations. A survey methodology was employed, gathering primary data from 322 employees across various customs points through distributed questionnaires. We utilized partial least squares structural equation modeling (PLS-SEM) to ensure methodological rigor in our analysis. The findings indicate that effective IT auditing significantly enhances EAIS effectiveness, with e-invoicing acting as a moderator that amplifies this effect. This underscores the critical role of auditing practices in improving operational dynamics at customs points, facilitating smoother national trade processes. The study offers actionable insights for industry professionals and policymakers, emphasizing the importance of integrating robust IT auditing practices with e-invoicing systems. By doing so, stakeholders can promote greater efficiency and compliance in national trade operations at Jordanian customs points, ultimately contributing to the optimization of trade processes and regulatory adherence. This research highlights the significance of strengthening auditing frameworks and leveraging technological advancements like e-invoicing to enhance operational effectiveness within Jordan’s customs environment.

Trustworthy V2G scheduling and energy trading: A blockchain-based framework

The rapid growth of electric vehicles (EVs) and the deployment of vehicle-to-grid (V2G) technology pose significant challenges for distributed power grids, particularly in fostering trust and ensuring effective coordination among stakeholders. Establishing a trustworthy V2G operation environment is crucial for enabling large-scale EV user participation and realizing V2G's potential in real-world applications. In this paper, an integrated scheduling and trading framework is developed to conduct transparent and efficacious coordination in V2G operations. In blockchain implementation, a cyber-physical blockchain architecture is proposed to enhance transaction efficiency and scalability by leveraging smart charging points (SCPs) for rapid transaction validation through a fast-path practical byzantine fault tolerance (fast-path PBFT) consensus mechanism. From the energy dispatching perspective, a game-theoretical pricing strategy is employed and smart contracts are utilized for autonomous decision-making between EVs and operators, aiming to optimize the trading process and maximize economic benefits. Numerical evaluation of blockchain consensus shows the effect of the fast-path PBFT consensus in improving systems scalability with a balanced trade-off in robustness. A case study, utilizing real-world data from the Southern University of Science and Technology (SUSTech), demonstrates significant reductions in EV charging costs and the framework's potential to support auxiliary grid services.

The Role of Artificial Intelligence in Enhancing Trade Facilitation through Single Window Systems

This paper explores the role of Artificial Intelligence (AI) in enhancing trade facilitation through its integration with Single Window Systems (SWS). It investigates how AI technologies such as machine learning, natural language processing, and predictive analytics can improve the efficiency and effectiveness of trade processes. Case studies of Singapore and Australia are analyzed to highlight successful AI applications and key lessons learned. The study discusses the benefits, including increased efficiency, reduced costs, enhanced accuracy, and improved user experience, alongside the challenges posed by technical complexities, legal and ethical considerations, and resistance to change. The paper also provides policy implications and recommendations for governments, international organizations, and private sector stakeholders. Future research directions emphasize emerging AI technologies like AI-driven blockchain and advanced NLP, and their potential long-term impacts on global trade dynamics.

Public health emergencies and international trade in the context of global value chains: Evidence from COVID‐19 in China

AbstractIn recent years, there has been a notable increase in the frequency of public health emergencies (PHE), which pose a substantial threat to the global supply and demand equilibrium as well as the stability of the global value chains (GVC). The article takes the example of the COVID‐19 pandemic and utilises China's foreign trade monthly data spanning from 2018 to 2021 for an empirical analysis of how COVID‐19 affected China's import and export trade, as well as its participation in GVC collaborations. The findings are as follows: (1) The proliferation of COVID‐19 significantly and negatively impacted China's export trade, while its impact on China's import trade was insignificant. (2) The impact of the COVID‐19 on processing trade exports was more pronounced compared to general trade exports, highlighting the detrimental effect of the pandemic on GVC collaboration. (3) The adverse influence of the COVID‐19 on China's foreign trade and GVC cooperation primarily stemmed from its impact on international effective demand. (4) The pandemic exerted a more substantial negative effect on processing trade involving supplied materials with low production value added compared to processing trade involving imported materials with high value added. And it had a greater adverse impact on low‐tech products as opposed to high‐tech products, indicating that industries with higher value‐added and high‐tech products exhibited greater resilience in the face of trade disruptions by COVID‐19.

An Optimization Strategy for EV-Integrated Microgrids Considering Peer-to-Peer Transactions

The scale of electric vehicles (EVs) in microgrids is growing prominently. However, the stochasticity of EV charging behavior poses formidable obstacles to exploring their dispatch potential. To solve this issue, an optimization strategy for EV-integrated microgrids considering peer-to-peer (P2P) transactions has been proposed in this paper. This research strategy contributes to the sustainable development of microgrids under large-scale EV integration. Firstly, a novel cooperative operation framework considering P2P transactions is established, in which the impact factors of EV charging are regarded to simulate its stochasticity and the energy trading process of the EV-integrated microgrid participating in P2P transactions is defined. Secondly, cost models for the EV-integrated microgrid are established. Thirdly, a three-stage optimization strategy is proposed to simplify the solving process. It transforms the scheduling problem into three solvable subproblems and restructures them with Lagrangian relaxation. Finally, case studies demonstrate that the proposed strategy optimizes EV load distribution, reduces the overall operational cost of the EV-integrated microgrid, and enhances the economic efficiency of each microgrid participating in P2P transactions.

The Study on The Development Trends of Cross-Border E-Commerce Platforms

With the continuous deepening of globalization and digitalization, cross-border e-commerce (CBEC) has become a critical driving force in promoting international trade and global market development. CBEC not only reshapes traditional trade models but also provides unprecedented internationalization opportunities for small and medium-sized enterprises (SMEs), significantly enriching consumer choices and fostering the prosperity and diversification of the global market. Despite the rapid development of e-commerce, there remain numerous challenges in various areas that require further in-depth research and exploration. For instance, how technology can continuously drive the development of CBEC, how consumer behavior adapts to this emerging model, how trade processes can be optimized to accommodate digital transformation, and how CBEC can promote sustainable development and brand internationalization. The answers to these questions are crucial for a comprehensive understanding of CBEC and are the focus of both academic and industry attention. This paper aims to review and analyze the development trends of CBEC, delving into six aspects: technological drivers, consumer behavior, trade process reconstruction, challenges faced, sustainable development, and brand internationalization. The goal is to provide valuable insights and experiences for the further development of cross-border e-commerce.

Modelling an emission trading scheme based on a dual-market mechanism in multimode networks with customised bus services

ABSTRACT The transport-related emissions are one of the main contributors to air pollution. In this paper, we construct an efficient and stable emission trading scheme (ETS) to reduce emissions. We build a dual-market mechanism for carbon emission permit (CEP) in the transportation system to control emissions at source, where CEPs are issued in a paid way in the primary market and traded freely in the secondary market. At the same time, we include customised bus (CB) and describe the competitive relationship between CB and private car (PC) in a multimode network. The market trading process and travel choice behaviours are formulated as a variational inequality problem (VIP). The VIP is solved using a relaxation algorithm, and the multi-round iteration strategy is used for updating permit volumes. Finally, we conduct numerical experiments based on Braess and Sioux Falls networks to demonstrate the merits of the ETS based on a dual-market mechanism.

The Impact of the Digital Economy on International Trade Models: Opportunities and Challenges

With the rapid development of the digital economy, international trade models are undergoing profound changes. Digital technology has reshaped traditional trade structures, driving the reorganization of global value chains and the rise of intangible assets. This paper explores the new characteristics of international trade in the context of the digital economy, including the transformation of trade structures driven by digitalization, the increasing importance of intangible assets in trade, and the influence of digital ecosystems. The digital economy has made trade processes more convenient and efficient, offering new globalization opportunities for emerging markets and small and medium-sized enterprises (SMEs), and promoting the growth of cross-border services and digital products. However, challenges remain, such as disparities in digital infrastructure, conflicts between digital governance and cross-border data flows, and the diversity of digital trade rules. This paper summarizes these opportunities and challenges and suggests future research directions to help policymakers, businesses, and technology providers navigate the complex landscape brought about by the digital economy.

Dynamic operating envelopes embedded peer-to-peer-to-grid energy trading

A novel decentralized peer-to-peer-to-grid (P2P2G) trading mechanism considering distribution network integrity is proposed. In order to direct prosumers’ peer-to-peer (P2P) trading behavior to be grid-friendly, the proposed method incorporates Dynamic Operating Envelopes (DOEs) into the existing P2P2G trading. Moreover, DOEs are determined through negotiations between the distribution system operator (DSO) and prosumers alongside the process of P2P trading, avoiding compromising prosumers’ privacy and network parameters leakage. To reduce communication costs during P2P trading, a variant of the alternating direction method of multipliers (ADMM), i.e., communication-censored ADMM (COCA) is used to solve the P2P2G trading problem. Finally, the DOE price is shown to be comprised of several economically interpretable components. Simulations validate the effectiveness of the proposed mechanism.

Discussion On The Development Of China's Regional Carbon Market Under The Background Of Double Carbon

Accelerating China's carbon trading market is one of the important means to deal with climate change and achieve the dual carbon goal. Due to the huge differences in China's regional economic development and carbon resource endowment, the impact of the establishment of the national unified carbon trading market on regional economic development is unstable and uncertain. For local governments to make full use of this empty window period, this paper combs the recent development of the carbon market, and discusses the development prospect of China's regional carbon market under the background of carbon trading. The results show that: ①in the current development of the national carbon emission trading market, we can not achieve the carbon unification of the market and abandon the local carbon trading market; ②In the process of regional carbon trading, it can promote the low-carbon development of local economy; ③In the process of regional carbon trading, it can increase the share of clean energy and improve the efficiency of regional ecological and environmental protection. Then, some suggestions are put forward for the development of local carbon trading: ①appropriately expand the pilot scale of local carbon trading, go up and down, and realize the double cycle development of carbon market; ②Strengthen the training of professionals and create an innovative and entrepreneurial business environment; ③build a carbon platform with big data technology and improve the Regional Internet plus carbon enterprise database; ④Actively promote the development of PPP model, explore the carbon sink transaction of cooperation between the government and social capital, continuously improve the regional green and low-carbon development, and jointly promote the realization of the "double carbon goal".

Digital trade liberalization and quality upgrading: evidence from Chinese intermediate imports

ABSTRACT This article investigates how the import quality of intermediate products responds to digital trade liberalization using Chinese Customs data and the composite index of digital trade liberalization obtained from OECD database for 2014–2019. The results reveal that digital trade liberalization has significantly improved the quality of Chinese manufacturing intermediate imports. Further mechanism tests show that digital trade liberalization will boost the improvements through trade cost reduction effects. For the influence path, digital trade liberalization will promote the quality upgrading through both intensive and extensive margins. The heterogeneity analyses find that imports from countries with high economic developments experienced larger quality promotion than those from lower economic area. Meanwhile, the quality upgrading effects of digital trade liberalization are mainly reflected in Chinese non-comparative industries, such as downstream, digital-intensive, R&D-intensive and technology-intensive industries. Moreover, compared to homogeneous products and those by processing trade mode, the quality of intermediate imports for differentiated products by general trade are more responsive to the liberalization of digital trade barriers.

An Introduction to Carbon Credit Markets and Their Potential for Florida Agricultural Producers

This publication is part of a larger body of work initiated by the UF/IFAS Extension Climate and Carbon Extension Educators that informs a general audience about climate issues and mitigation strategies. It was prepared to help Extension agents, farmers, and ranchers interested in carbon credit programs better understand the process of carbon credit trading, from credit generation to markets. Note that because carbon markets are relatively new, programs and prices are likely to change over time. This publication includes a list of resources for further information.