Characterizing Regionalism in Asia: A Modern Global Supply Chain Perspective
Publication | September 2022
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This paper quantifies economic interdependence among Asian economies and between Asia and the rest of the world using a modern global value chain decomposition framework.
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It shows that global value chain linkages in value-added terms across economies have grown faster than value-added linkages through final goods trade. Stronger value-added linkages between two economies tends to make it more likely for the pair to have membership in the Regional Comprehensive Economic Partnership or Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
Contents
- Introduction
- Institutional Background: New Regionalism in Asia
- Conceptual Background: Modern Value-Added Based Measures of Economic Interdependence
- A New Look at the RCEP and the CPTPP: The GVC Perspective
- "Near Sourcing" and "Near Selling"
- Conclusion
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