Reshaping The International Trade Statistics: Factors And Implications
The geographical fragmentation of production has created a new trade reality and has many implications for how we understand trade policy. The growing international flows in intermediate goods reflect the evolution of intra-industry trade, the impact of offshoring and the prominent role of networks of multinational enterprises in world trade. While Europe is still the biggest trader in intermediate goods, Asia has been rapidly closing the gap, and is now a close second. Beside the factors that contributed to the appearance of new types of business and new trade patterns, we should be also aware of some implications of such shifts. We have to mention the need of reshaping of the methodology of foreign trade statistics, the need of re-evaluation of some technical issues of trade policies or the need of re-evaluation of the political speech of some western countries towards certain emerging countries with which they encounter increasing trade deficits.
Volume (Year): 1 (2012)
Issue (Month): 1 (January)
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