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Made in the World From Trade in Goods to Trade in Tasks. [email protected]. Boeing Dreamliner 787. Source: Graphic News. http://online.wsj.com/article/SB10001424052748704828104576021142902413796.html. Processors , €34, 6%. Memories , €15, 3%. Integr.circuits , €32, 6%. - PowerPoint PPT Presentation
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Made in the WorldFrom Trade in Goods to Trade in Tasks
Boeing Dreamliner 787
Source: Graphic News
http://online.wsj.com/article/SB10001424052748704828104576021142902413796.html
ProcessorsProcessors, €34, 6%, €34, 6%
MemoriesMemories, €15, 3%, €15, 3%
Integr.circuitsIntegr.circuits, €32, 6%, €32, 6%
DisplayDisplay, €22, 4%, €22, 4%
Camera Camera (5 mp), €17, 3%(5 mp), €17, 3%
Other partsOther parts, €59, 11%, €59, 11%
LicensesLicenses, €21, 4%, €21, 4%
Nokia’s Nokia’s operating operating profitprofit, €89, 16%, €89, 16%
Final assembly, €11, 2%
DistributionDistribution, €19, 4%, €19, 4%
Value addedValue addedin Nokia’sin Nokia’sinternalinternalsupportsupportfnsfns, €169, 31%, €169, 31%
(Excl. Operating profit & (Excl. Operating profit & assembly listed below) assembly listed below)
RetailingRetailing, €60, 11%, €60, 11%
Who Captures Value in GlobalSupply Chains?
Case Nokia N95
Source:Jyrki Ali-Yrkkö, Petri Rouvinen, Timo Seppälä & Pekka Ylä-Anttila
ETLA, The Research Institute of the Finnish Economy
Smiley Face (Source: Business Week International online extra, May 16, 2005, Stan Shih on
Taiwan and China)
Higher Added-value and Lower
Replacement
Marketing
Brand
Innovation
DesignR&D
R&D/Innovation Centre
Value Creation
Standardisation
InnovationR&D
Design
AddedValue
Manufacture
Assembly
Logistics
Marketing
Brand
StandardisationValue-added process
Global Logistics Center
Logistics
AssemblyManufacture
7
MIWI website
Trade patterns and global
value chains in East Asia :From Trade in Goods to Trade in Tasks
Global production chains – Ins and outs
International consumer demand
Export processing zones
Development of infrastructure and technological progress
Lower applied tariffs and trade policy incentives
Outsourcing and offshoring strategies and FDI
Emergence of “Trade in tasks”:
Need for new statistical measures of international trade
Global production chains and world trade
• Dominance of trade in intermediate goods
• Development of intra-firm trade
• Increase of processing trade
Asian economies have relatively low applied tariffs on imports (especially on semi-processed goods)
Source: WTO
Export processing zones account for about 20% of total merchandise exports of developing economies
Sources: ILO & WTO
(2006 or most recent year): economies with EPZs
Asia is the most attractive FDI destination in the developing regions
Source: UNCTAD
(Billions of US$)
… Confirming that:•Asia is the “World manufacturer”•Asian supply chains boost the regional markets•Asian economies present a high degree of industrial specialization
Key facts on Asia trade in intermediate goods …
•Asia’s share in world exports of intermediate goods increases : 35% in 2009•Intra-Asian trade is predominant•Asia imports more intermediate goods than it exports•Intermediate goods traded by Asian economies are more and more sophisticated •More and more concentrated trade on few components
Intermediate goods dominate world non-fuel merchandise exports
Source: UNSD & WTO2009 value
Billi
ons
of U
S$
Towards a new measure of international trade
• Traditional statistics present some biases:– Multi-counting of trade flows in intermediate goods– Difficult attribution of the country of origin of an imported
product
• Measuring trade in value added terms allows:– To circumvent the biases observed with traditional statistics– To take into account the specificity of trade occurring between
the different actors of a production chain
Computers and electronic equipmentexports and their domestic and imported contents
(in billions of $ and percentage)
Source: WTO, based on IDE-JETRO Asian Input-Output tables
United States-China trade balanceTraditional versus VA measure (in billions of US$)
Sources: UN Comtrade Database, IDE-JETRO AIO table and WTO estimates
Summary of the benefits of trade in value added analysis
• A better evaluation of the actual contribution of international trade to an economy
(incl. development, employment, environment)
• To highlight the interdependency of economies, and the counter-productive effects of protectionist measures on economies and enterprises they are supposed to protect
• Better evaluation of the contribution of the services sector on trade
• Conventional trade statistics need complement for analysing value added – data gaps and how can they be closed (TEC, WIOD, OECD/WTO)
http://www.wto.org/english/res_e/statis_e/miwi_e/miwi_e.htm