Global Value Chains in East Asia

http://www.wto.org/ 6.06.11

Lamy suggests "trade in value-added" as a better measurement of world trade

Director-General Pascal Lamy, in launching the WTO and IDE-JETRO joint publication "Trade Patterns and Global Value Chains in East Asia" on 6 June 2011 at the WTO, said that "by focusing on gross values of exports and imports, traditional trade statistics give us a distorted picture of trade imbalances between countries". "The picture would be different if we took account of how much domestic value-added is embedded in these flows," he said. He explained that global manufacturing has brought a new dimension to the relationship between trade, investments, industrial production and development. "Far from being a zero sum game, trade in tasks proved to be a win-win game for the Asian region," he said. He invited the public to pursue the dialogue virtually, through the WTO "Made in the World" website.

Link to the news item: http://www.wto.org/english/news_e/news11_e/miwi_06jun11_e.htm

More on the "Made in the World" initiative: http://www.wto.org/english/res_e/statis_e/miwi_e/miwi_e.htm

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