Special Essay: Japan and the Global Factory
نویسنده
چکیده
Buckley & Strange (2015) have highlighted the major changes in the global location of economic activity over the past 30 years, with the emerging economies assuming greater shares relative to the advanced economies. They noted that the major drivers of these changes included inter alia economic restructuring and market liberalization in many countries in Asia, Eastern Europe and elsewhere; financial deregulation and the integration of world financial markets; trade and investment liberalization (including the proliferation of multilateral and bilateral preferential trading arrangements); and technological advances, particularly in information and communication technologies (ICT) and transportation/logistics. The associated international fragmentation of value chains has also increased the importance of intermediate goods trade in the global economy. Trade in intermediate goods now dominates global trade flows, accounting for over 60 percent of world exports, although this overall figure masks marked differences between countries and between products (UNCTAD 2013: 122).
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