Value chain trade has challenged economic implications of
conventional trade statistics and transformed bilateral trade
relationships into multilaterals. Conventional trade statistics
exaggerate trade volumes and bilateral trade imbalances. It is
imperative to measure trade in value-added and examine trade
relations in the context of global value chains. This book is a
collection of research papers on new approaches to measure trade in
value added and the role of global value chains in modern
international trade. It introduces the input output method for
measuring trade and a direct approach for measuring the domestic
value added of the People's Republic of China - the center of
global assembly. In addition, it shows how to analyze trade
relations in the context of global value chains.
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