Introduction

Yuqing Xing

Chapter 1 in Uncovering Value Added in Trade:New Approaches to Analyzing Global Value Chains, 2015, pp 1-7 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Modern international trade of manufacturing products is based on global value chains (GVCs). Many firms located in various countries are involved in production processes from product design, manufacturing parts, assembly, to distribution. The proliferation of GVCs has been integrating the world economy like an invisible hand. Supply chain trade differs from the trade observed by the British economist David Ricardo in a variety of aspects. As numerous countries are involved in producing a single product using imported intermediate inputs, gross trade values generally exaggerate export capacity and domestic import demand of nations, and this problem is particularly severe for countries specializing in final assembly (Xing and Detert 2010). Supply chain trade has transformed the relationship between trading nations from the traditional producer–consumer relations into partnerships, and bilateral trade relations have turned into multilateral ones…

Keywords: Trade; Global Value Chains; Production Networks; Input-output Method; Trade Statistics; Trade Measurement; Trade in Value-Added; Domestic Value-Added; Production Fragmentation; Global Assembly; Trade Relations; Foreign Direct Investment; Manufacturing (search for similar items in EconPapers)
Date: 2015
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