Seminar: Global Value Chains and the United States’ Missing Exports
5 October 2017
ADBI, Tokyo, Japan
More and more multinational corporations (MNCs) in the United States (US) are outsourcing the production and assembly of their products to foreign companies. When they do, they derive the largest share of their revenue from the intellectual property embedded in core technological innovation and brand names. However, conventional trade statistics are compiled based on the value of goods crossing national borders, as declared to customs. Generally, the value added associated with intellectual property rights and embedded in physical goods is neither recorded as an export nor as an import of any country. Hence, current trade statistics greatly underestimate US exports and substantially exaggerate its trade deficit. In this seminar, Yuqing Xing will use Apple—the largest American consumer products company—to illustrate the failure of conventional trade statistics to report actual US export capacity in the age of global value chains, and he will discuss implications for Asia.
About the Speaker
Yuqing Xing is a professor of economics at the National Graduate Institute for Policy Studies (GRIPS) in Tokyo and a member of the International Advisory Committee of the Global Production Network Center at the National University of Singapore. He served as the Director of the Capacity Building and Training Department of the Asian Development Bank Institute from 2011 to 2014.
Xing focuses on international trade, foreign direct investment, exchange rates, and is a leading expert on global value chains. His research on the iPhone and the Sino–US trade balance has been discussed widely in the global mainstream media, challenging conventional views on bilateral trade statistics and instigating reform in trade statistics. He received his bachelor’s and master’s degrees from Peking University and his Ph.D. in economics from the University of Illinois at Urbana-Champaign.
Provide an opportunity to discuss relevant topics among policy makers, researchers, academics, think tanks, and other audiences, leading to policy options for inclusive and sustainable development.
About 20 participants.
- Scholarly presentation
- Discussion among policy makers, researchers, academics, think tanks, and other audiences
How to register
Time of event
11:00 - 12:00