Changing Patterns of Trade and Global Value Chains in Postcrisis Asia
This Asian Development Bank brief examines how patterns of trade and global value chains (GVCs) in developing Asia have changed since the global financial crisis. The paper reports that export slowdown in the region was caused by a combination of weak import demand for Asian goods in advanced economy markets, structural transformation and reduced import demand in the People’s Republic of China, and possible impact of increasing non-tariff measures. According to this paper, it further states that much of the weak import demand is likely
to be temporary — developing Asia gained a 1.5% increase in exports in 2016, after a 0.8% decline in 2015. Among South Asian economies, India and Sri Lanka are expected to have better export volume growth in 2016.
Author: Ganeshan Wignaraja, Juzhong Zhuang, Mahinthan J. Mariasingham, and Madeline Dumaua-Cabauatan
Tags: Global Value Chains, Import, Export, India, Sri Lanka, Non-Tariff Measures, Trade Facilitation