 Production Networks and Trade Patterns in East Asia: Regionalization or Globalization?*Asian Economic Papers, 2011, vol. 10, issue 1, 65-95 Abstract: This paper examines the implications of global production sharing for economic integration in East Asia with emphasis on the behavior of trade flows in the wake of the 2008 global financial crisis. Although trade in parts and components and final assembly within production networks ("“network trade"”) has generally grown faster than total world trade in manufacturing, the degree of dependence of East Asia on this new form of international specialization is proportionately larger than elsewhere in the world. Network trade has certainly strengthened economic interdependence among countries in the region with the People's Republic of China playing a pivotal role as the premier center of final assembly. However, contrary to popular belief, this has not lessened the dependence of the export dynamism of these countries on the global economy. This inference is basically consistent with the behavior of trade flows following the onset of the global financial crisis. (c)© 2011 The Earth Institute at Columbia University and the Massachusetts Institute of Technology. Date: 2011 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:tpr:asiaec:v:10:y:2011:i:1:p:65-95 Ordering information: This journal article can be ordered from Access Statistics for this article Asian Economic Papers is currently edited by Wing Thye Woo, Sungbae An, Fukunari Kimura and Ming Lu More articles in Asian Economic Papers from MIT Press |
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