This paper examines trade integration of East Asian countries through the lens of global value chains (GVCs). It first gauges the extent and involvement of trade in value-added (TiVA) for East Asian countries. The analysis confirms that reliance on backward GVC participation outside of the region still looms large in East Asia. This implies, in addition to deepening intraregional integration, linking with global trade and production networks remains important.
Bay of Bengal countries have been affected heavily by the ongoing Coronavirus pandemic. This article argues that the regional cooperation could help in reducing the costs of pandemic-driven barriers. The responses to the Corona pandemic also suggest a greater scope of regional cooperation among the countries in the Bay of Bengal region. Regional integration may help the Bay of Bengal countries overcome divisions that impede the flow of trade in goods and services, people and ideas, particularly when all members have been facing a common challenge to beat the Coronavirus pandemic.
In a unique attempt, our paper aims to provide a quantitative economic assessment of the impact of “Make in India”, a flagship program for industrialization, launched by the Government of India in 2014, combining it with the global trade war of 2017-18. We analyze whether the expected favourable impact of the former was reversed due to its reactive policies compared its pro-active policies, and whether it worsened due to the trade war, whose effects continue to aggravate in a post-COVID recalibration of global supply chains.
Creativity and innovation play increasingly important roles in modern societies. In both developed and developing countries alike, artistic, scientific and economic creativity accounts for significant portions of GPD and trade in creative goods is an increasingly important contributor to global trade flows.
Towards more affordable medicine: A proposal to waive certain obligations from the Agreement on TRIPS
Access to medicines at prices patients can afford has been a recurrent concern for the global community ever since the Agreement on Trade Related Aspects of Intellectual Property (TRIPS) was adopted in 1995 as one of the agreements under the World Trade Organization (WTO).
This paper uses new data from the Asian Development Bank (ADB) and its partners, including the UN Economic Commission for Latin America and the Caribbean (ECLAC), to track the importance of trade within global value chains in East Asia and Latin America. The analysis shows that while value chain trade is important within the overall trade landscape, it takes place to a significant extent within a traditional paradigm in which Latin America most often supplies raw materials, and East Asia supplies manufactured goods.
The world and regional economies have been hit hard by the COVID-19 crisis. The combined effects of the pandemic and global and national lockdowns have caused havoc in the countries of South and South-West Asia (SSWA), with their trade severely impacted. This paper investigates the subregion’s experience implementing trade facilitation measures in the times of COVID-19. The paper indicates that the SSWA countries have achieved remarkable progress in trade facilitation, especially as the COVID-19 crisis progressed.
The COVID-19 pandemic and associated attempts to contain its spread have created unprecedented hurdles to international trade. This paper reviews trade facilitation measures implemented in North and Central Asia (NCA), including transport and trade finance facilitation. All NCA countries have sought to protect the public health by restricting movement of people (including across borders) and applying special sanitary regulations at border crossings. These have included requirements to sanitize trucks, protect customs officials, change drivers, and requiring COVID-19 tests from drivers.
The COVID-19 pandemic is considered the most serious health crisis and the greatest challenge to humankind since the Second World War. Although countries in East and North-East Asia (ENEA) were the first to be hit by COVID-19, they have so far been successful in controlling the outbreak with relatively low fatalities, partially thanks to various containment measures.