RIETI BBL Seminar Handout

Size: px
Start display at page:

Download "RIETI BBL Seminar Handout"

Transcription

1 Research Institute of Economy, Trade and Industry (RIETI) RIETI BBL Seminar Handout GVC Journeys When National and Territorial Comparative Advantage Differ December 11, 2018 Speaker: Richard Baldwin

2 GVC Journeys by Richard Baldwin & Toshihiro Okubo RICHARD BALDWIN PROFESSOR OF INTERNATIONAL ECONOMICS THE GRADUATE INSTITUTE I GENEVA

3 Background question: Was comparative advantage denationalised?

4 #1. EMs lowered tariffs a lot AEs much less Applied tariffs (%) South Asia Middle East & North Africa East Asia Sub- Saharan Africa US, Japan & EU

5 #2. Shocking Share Shift in Manufacturing. World shares: 7 losers 7 risers RoW = little change. World manufacturing share 80% 70% 60% 50% 40% 30% 20% 10% 0% RoW 6 risers, 5% , G7 65% % % China, 18% 9% Source: unstats.un.org; 6 risers = Korea, India, Indonesia, Thailand, Turkey, Poland

6 #3. Two way trade in similar goods goes North South, too Intraindustry trade indices 80% 70% 60% 50% 40% 30% 20% 10% 0% Germany -France US- Mexico Germany- Poland US- Mexico Japan- Thailand 5

7 #4. Two way trade in similar goods goes North South, too Intraindustry trade indices 80% 70% 60% 50% 40% 30% 20% 10% 0% Germany -France US- Mexico Germany- Poland US- Mexico Japan- Thailand 6

8 #5. Parts and components flow wrong way?

9 What explains this? 1. Old Globalisation (1 st unbundling): Lower barriers allow nations to exploit existing comparative advantage. (Trade led globalisation) 2. New Globalisation (2 nd unbundling): Better ICT allows North >South flows of firm specific knowhow that changes existing comparative advantages. (Knowledge led globalisation) 8

10 Weak direct evidence of knowledge flows Net receipts for IP (billion US$) Net receipts for IP (billion US$) Germany Japan US (right scale) Korea, Rep. Mexico Thailand China (right scale)

11 Actual question addressed in this paper: Can we identify GVC paradigms? Like Inward Oriented vs Export Oriented development paradigms of yesteryear? e.g. Thailand focused on autos; Philippines much broader; Costa Rica focused on services, etc. Can we classify the GVC Industrialisation Journeys into helpful categories?

12 Trade in parts vs final goods The necessary suspense of disbelief: Assume exporting parts from South to North reflects North tech + South wages (the tech is in the parts) Export of final goods less so (assembly activity is simpler and ubiquitous before 2 nd unbundling) But may be interesting even without suspended disbelief

13 The GVC Journey diagram 1. Empirical Comparative Advantage (ECA) index For country c in sector i and k=parts, or goods Measures Territorial Comparative Advantage (Comp.Adv. when sources of comp.adv. cross borders within int l supply chains) From 1 (comp.disadv) to 1 (comp.adv.)

14 GVC Journey diagram Goods ECA index Parts ECA Index

15 GVC journey diagram (,+) Emp.Comp.Adv. in goods, not parts (+,+) Emp.Comp.Adv. in parts & goods (typical G7?) (, ) Emp.Comp.Disdv. in parts & goods (typical EM pre 1990) (+, ) Emp.Comp.Adv. in parts, not goods

16

17 Example of paradigms ECA goods Pure import substitution ECA parts

18 Example of paradigms ECA goods ECA parts Successful export led industrialisation

19 Example of paradigms ECA goods ECA parts Assembly export platform

20 0.6 Germany s GVC Journey Transportation equip Other machinery Electrical & Optical 0.4

21 Transp. Global sourcing boosts comp.adv. in final Germany s GVC Journey STYLISED OtherMach Offshoring production Electrical & Optical Offshoring production

22 US s GVC Journey Electrical & Optical 0.1 Transp.Eq Other machinery

23 Japan s GVC Journey 1.0 Other machinery Transp.Eq Electrical & Optical

24 0.8 Electrical & Optical China s GVC Journey Transp.Eq Other machinery

25 Mexico

26 Mexico

27

28

29 EMs lowered tariffs; AEs much less Thailand Malaysia Indonesia Taiwan,China China Philippines Korea Rep

30 Spider: Basic assumptions Perfect competition, constant return, 2 regions. All final consumption in North. Shipping costs of final good t = traditional trade costs Coordination cost: Per-unit costs is tθ(y) paid if part not produced in region of assembly. = efficiency loss due to spatial separation. 29

31 Comparative advantage PARTS: Parts are indexed by type y ε Y Unit production cost are: b(y) in S normalised to 1 in N. S has comp.adv. in parts b(y)<1 ASSEMBLY: Assembly of parts costs: a N in N a S in S. S has comp.adv. in assemble iff a S <a N. 30

32 Intermed results: Spider Each part is a point in b, space. Part s relative cost in S b b b N = 1 + θ N Threshold part; assembly in S 1 NS b S b S = 1 - θ Threshold part; assembly in N Part s coordination cost

33 Spider Part s relative cost in S b b b N = 1 + θ N 1 NS 3 sets of parts, N, NS, S N: always cheapest in N S: always cheapest in S. NS: cheapest to co-locate with assembly. b S b S = 1 - θ Part s Offshoring cost 32

34 Cost minimisation Given sets N, S and NS chosen to min costs for given t Assembly in S iff is greater than 33 dy y y t y b dy y a y y N S NS N ) ( ) ( ) ( ) ( 1 dy y y b dy y y t t a y y S NS S N ) ( ) ( ) ( ) ( 1 (1).

35 Offshore overshooting & reshoring Easy results:. Shift in assembly leads to too much parts overshooting (compared to costless trade case) likely to occur. Lowering t reverses this reshoring. b 1 b b N S b N = 1 + θ NS b S = 1 - θ 34

36 b / 2 b / 2 A ( t ) b R ( t ) b Simple example Focus on comparative advantage; - Assume all coordination costs, s, equal for all parts, so horizontal axis now t, not theta Start with assembly in North; assume a S <a N. N b = 1 NS S Assembly in S Assembly in N t Result: Offshoring overshooting of parts 35

37 Production technology and distribution of comparative advantage 36

38 Asymmetric parts production and exports with knowledge-led globalisation 37

GLOBAL ECONOMICS, REAL ESTATE PRICING & OUTLOOK FOR 2017 RICHARD BARKHAM GLOBAL CHIEF ECONOMIST

GLOBAL ECONOMICS, REAL ESTATE PRICING & OUTLOOK FOR 2017 RICHARD BARKHAM GLOBAL CHIEF ECONOMIST GLOBAL ECONOMICS, REAL ESTATE PRICING & OUTLOOK FOR 2017 RICHARD BARKHAM GLOBAL CHIEF ECONOMIST BREXIT TRUMPISM EURO-TRUMPISM 4 ECONOMICS, PRICING & OUTLOOK FOR 2017 LET S GET GEOPOLITICS IN PERSPECTIVE

More information

Car Production. Brazil Mexico. Production in thousands. Source: AMIA Asociacion Mexicana de la industria automotriz.

Car Production. Brazil Mexico. Production in thousands. Source: AMIA Asociacion Mexicana de la industria automotriz. Car Production Production in thousands 4000 3000 2000 1000 Brazil Mexico 0 2013 2014 2015 Source: AMIA Asociacion Mexicana de la industria automotriz. Mexico s Expanding Middle Class Percent of population

More information

The outlook: what we know, the known unknowns and the unknown unknowns

The outlook: what we know, the known unknowns and the unknown unknowns The outlook: what we know, the known unknowns and the unknown unknowns 24 April 2017 Seoul Brian Pearce, Chief Economist, IATA www.iata.org/economics Airline Industry Economics Advisory Workshop 2016 1

More information

Mis thinking globalisation: The case for WTO 2.0

Mis thinking globalisation: The case for WTO 2.0 Mis thinking globalisation: The case for WTO 2.0 Richard Baldwin Graduate Institute, Geneva & University of Oxford 26 September 2012, WTO Forum Mis thinking globalisation Conventional view: Globalisation

More information

The Australia US FTA: implications for international education

The Australia US FTA: implications for international education The Australia US FTA: implications for international education Prepared for The Path to Cultural Understanding and Development 18th IDP Australian International Education Conference, Sydney 5-8 October

More information

Global Construction Outlook: Laura Hanlon Product Manager, Global Construction Outlook May 21, 2009

Global Construction Outlook: Laura Hanlon Product Manager, Global Construction Outlook May 21, 2009 Global Construction Outlook: Short-term term Pain, Long-term Gain Laura Hanlon Product Manager, Global Construction Outlook May 21, 2009 What This Means for You The world is set to be hit this year with

More information

SA economic review Kevin Lings. August 2018

SA economic review Kevin Lings. August 2018 SA economic review Kevin Lings August 2018 South Africa real GDP growth year-on-year %y/y 8 7 6 5 Ave 4.3% 4 Ave 2.5% 3 2 Ave 0.9% 1 0-1 -2-3 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 2

More information

Cost and Benefit Analysis of Possible Philippine Participation in the Trans-Pacific Partnership Agreement

Cost and Benefit Analysis of Possible Philippine Participation in the Trans-Pacific Partnership Agreement Cost and Benefit Analysis of Possible Philippine Participation in the Trans-Pacific Partnership Agreement (available at: http://www.gii.ncr.vt.edu/docs/gii_wp2014-1.pdf) Caesar B. Cororaton and David Orden

More information

U.S. Product Exports by Type to NAFTA Partners (Billion $USD)

U.S. Product Exports by Type to NAFTA Partners (Billion $USD) Veronica Nigh, American Farm Bureau Federation August 24, 2017 45.0 U.S. Product Exports by Type to NAFTA Partners (Billion $USD) Bulk Consumer Oriented Intermediate 40.0 35.0 30.0 25.0 20.0 15.0 10.0

More information

International Economic Shocks and the Challenges of International Corporations

International Economic Shocks and the Challenges of International Corporations RIETI Policy Symposium International Economic Shocks and the Challenges of International Corporations Ryuhei Wakasugi Research Counselor, RIETI Professor Kyoto University and Keio University R. Wakasugi

More information

Opportunities in a Challenging Global Business Environment: Can the World Avoid a Double-Dip?

Opportunities in a Challenging Global Business Environment: Can the World Avoid a Double-Dip? Opportunities in a Challenging Global Business Environment: Can the World Avoid a Double-Dip? Ross DeVol Chief Research Officer (310) 570 4615 rdevol@milkeninstitute.org www.milkeninstitute.org Presentation

More information

THE WORLD COMPETITIVENESS SCOREBOARD 2011

THE WORLD COMPETITIVENESS SCOREBOARD 2011 THE WORLD COMPETITIVENESS SCOREBOARD 2011 98.557 94.063 92.588 92.011 90.782 90.219 89.259 87.824 86.475 86.418 86.313 85.707 84.380 84.120 81.629 81.619 81.100 80.278 79.799 78.499 77.599 77.101 76.827

More information

Livio Di Matteo, Lakehead University Talk Prepared for the Thunder Bay (Port Arthur) Rotary, November 27 th, 2018

Livio Di Matteo, Lakehead University Talk Prepared for the Thunder Bay (Port Arthur) Rotary, November 27 th, 2018 Livio Di Matteo, Lakehead University Talk Prepared for the Thunder Bay (Port Arthur) Rotary, November 27 th, 2018 Exports Account for about one third of Canada s GDP Exports directly and indirectly generate

More information

I. World trade in Overview

I. World trade in Overview I. Table I.1 Growth in the volume of world merchandise exports and production by major product group, 1995-3 ( change) 1995-21 22 23 World merchandise exports 7. -.5 3. 4.5 Agricultural products 3.5 2.5

More information

Elements for the Biennial Review And Assessment of the World Timber Situation SELECTED DATA AND ANALYSIS.

Elements for the Biennial Review And Assessment of the World Timber Situation SELECTED DATA AND ANALYSIS. Elements for the Biennial Review And Assessment of the World Timber Situation 2015-2016 SELECTED DATA AND ANALYSIS Frances Maplesden Content Results of the 2016 Joint Forest Sector Questionnaire Secondary

More information

Session 4. Growth. The World Economy Share of Global GDP Year 2011 (PPP)

Session 4. Growth. The World Economy Share of Global GDP Year 2011 (PPP) Session 4. Growth Stylized Facts on Standards of Living across Countries Characterizing Growth over 1 Years: The US Economy Growth Dynamics of the G7 Countries and the OECD Economies Characterizing Growth

More information

Developments in air cargo: some data on the transport of pharmaceuticals

Developments in air cargo: some data on the transport of pharmaceuticals Developments in air cargo: some data on the transport of pharmaceuticals CCA Pharmaceuticals in the Cool Chain Milan September 17th, 2014 Gerard de Wit Managing Director WorldACD Market Data The Netherlands

More information

Trade Growth - Fundamental Driver of Port Operations and Development Strategies

Trade Growth - Fundamental Driver of Port Operations and Development Strategies Trade Growth - Fundamental Driver of Port Operations and Development Strategies Marine Terminal Management Training Program October 15, 2007 Long Beach, CA Paul Bingham Global Insight, Inc. 1 Agenda Economic

More information

The economic value of the EU shipping industry. Andrew P Goodwin

The economic value of the EU shipping industry. Andrew P Goodwin The economic value of the EU shipping industry Andrew P Goodwin 2 nd April 2014 Introduction Shipping is a vital facilitator of world trade 135 % Increase in world GDP in the last two decades 180 % Increase

More information

International Trade Economic Forecasts An Overview of Orange County and Southern California Exports

International Trade Economic Forecasts An Overview of Orange County and Southern California Exports International Trade Economic Forecasts An Overview of Orange County and Southern California Exports Mira Farka Adrian R. Fleissig Institute for Economic and Environmental Studies Orange County / Inland

More information

Global Industry Perspective Greg Tyler, Vice President of Marketing USA Poultry & Egg Export Council

Global Industry Perspective Greg Tyler, Vice President of Marketing USA Poultry & Egg Export Council Global Industry Perspective Greg Tyler, Vice President of Marketing USA Poultry & Egg Export Council UNECE Meetings Atlanta, Georgia April 24 th, 2012 USAPEEC & its Mission The USA Poultry & Egg Export

More information

Global growth forecasts Key countries/regions,

Global growth forecasts Key countries/regions, Global growth forecasts Key countries/regions, 2014-2018 Percent 7 6 5 4 3 2 1 0 Developing Asia Sub-Saharan Africa Middle East and North Africa Latin America and the Caribbean United States Euro area

More information

Figure 1: Canadian Real Exports and Imports 1981Q1 2009Q2, Quarterly

Figure 1: Canadian Real Exports and Imports 1981Q1 2009Q2, Quarterly Figure 1: Canadian Real Exports and Imports 1981Q1 2009Q2, Quarterly Exports and Imports (Millions of 2002 $) 100000 300000 500000 1981 1985 1989 1993 1997 2001 2005 2009 Exports Imports Exports and Imports

More information

Globalization and Trade April 2007

Globalization and Trade April 2007 Globalization and Trade April 2007 Questionnaire Q1. Turning to something else, do you believe that globalization, especially the increasing connections of our economy with others around the world, is

More information

TO INFINITY AND BEYOND? CAN RETAIL NON WOVENS KEEP GROWING? DANIEL GRIMSEY, RESEARCH ANALYST

TO INFINITY AND BEYOND? CAN RETAIL NON WOVENS KEEP GROWING? DANIEL GRIMSEY, RESEARCH ANALYST TO INFINITY AND BEYOND? CAN RETAIL NON WOVENS KEEP GROWING? DANIEL GRIMSEY, RESEARCH ANALYST Euromonitor International: Global Market Intelligence 2 Euromonitor International Covers Your Industry 3 Countries

More information

European and Japanese Multinationals and their subsidiary trade in host; Facts and features Japan-EU Conference on November Brussels, Belgium

European and Japanese Multinationals and their subsidiary trade in host; Facts and features Japan-EU Conference on November Brussels, Belgium European and Japanese Multinationals and their subsidiary trade in host; Facts and features Japan-EU Conference on November 17 2014 Brussels, Belgium ANDO, Ken-ichi, Professor, Department of Economics,

More information

Global economic cycle has slowed

Global economic cycle has slowed Year-on-year % change Confidence index, 50= no change Global economic cycle has slowed 25% 70 20% International trade growth 65 15% 10% Industrial production growth 60 5% 55 0% 50-5% Business confidence

More information

Trade and Economic Trends

Trade and Economic Trends Trade and Economic Trends Marine Terminal Management Training Program Paul Bingham Managing Director, Global Commerce & Transportation IHS Global Insight Long Beach, CA September 21, 2009 The Global Recession

More information

Demand/Supply of Asian Ferrous Scrap Market

Demand/Supply of Asian Ferrous Scrap Market American Metal Market EVENTS 7 th Steel Scrap Conference October 30-31, 2013 Demand/Supply of Asian Ferrous Scrap Market Kensuke KITANI SHIMABUN Corporation 1 Today s Agenda 1. Who is SHIMABUN? 2. Current

More information

COMMENTS ON THE INDUSTRIAL POLICY: THE CASE OF TURKEY

COMMENTS ON THE INDUSTRIAL POLICY: THE CASE OF TURKEY MINISTRY OF DEVELOPMENT, REPUBLIC OF TURKEY COMMENTS ON THE INDUSTRIAL POLICY: THE CASE OF TURKEY Umut GÜR Head of Department of Industry 10 May 2013 Panel on Industrial Policies, TEPAV, Ankara 1 1923

More information

USJI Event Is the TPP a Source of Cooperation or Conflict?: Japan s Perspective

USJI Event Is the TPP a Source of Cooperation or Conflict?: Japan s Perspective USJI Event Is the TPP a Source of Cooperation or Conflict?: Japan s Perspective May 17, 2012 Shujiro URATA Waseda University 1.TPP: Trans Pacific Partnership Agreement Origin: P4 (Chile, New Zealand, Singapore,

More information

Mexican Light Vehicle Outlook

Mexican Light Vehicle Outlook Mexican Light Vehicle Outlook LXXXIII Junta Automotriz CIEMEX March 2008 George M. Magliano Director of Auto Industry Americas Guido Vildozo Senior Market Analyst South America Pascual Francisco Senior

More information

Current situation and prospects for copper, nickel, lead and zinc

Current situation and prospects for copper, nickel, lead and zinc Global Commodities Forum Palais des Nations, Geneva 22-23 March 2010 Current situation and prospects for copper, nickel, lead and zinc by Mr. Don Smale, Secretary General, International Lead and Zinc Study

More information

Inland Empire International Trade Economic Forecast

Inland Empire International Trade Economic Forecast Inland Empire International Trade Economic Forecast Mira Farka Adrian Fleissig Institute for Economic and Environmental Studies Orange County / Inland Empire Regional SBDC Network California State University,

More information

Global trade: how does it look?

Global trade: how does it look? Edmonton, December 2018 Global trade: how does it look? Marie-France Paquet The Office of the Chief Economist Global Affairs Canada Overview 1. Canadian economy at a glance 2. Provincial economy at a glance

More information

Regional Economic Integration in East Asia and Japan s FTA Policy. November 18, Shujiro URATA Waseda University

Regional Economic Integration in East Asia and Japan s FTA Policy. November 18, Shujiro URATA Waseda University Regional Economic Integration in East Asia and Japan s FTA Policy November 18, 2010 Shujiro URATA Waseda University Contents I. Introduction II. Market-Driven Regional Economic Integration III. A Shift

More information

AREA TOTALS OECD Composite Leading Indicators. OECD Total. OECD + Major 6 Non Member Countries. Major Five Asia. Major Seven.

AREA TOTALS OECD Composite Leading Indicators. OECD Total. OECD + Major 6 Non Member Countries. Major Five Asia. Major Seven. Reference series Composite leading indicators OECD Composite Leading Indicators AREA TOTALS 7-03- 19 OECD Total 19 OECD + Major 6 Non Member Countries 19 Major Seven 19 Major Five Asia 19 Euro area 19

More information

US-China Trade Conflict: Dejavu or New One

US-China Trade Conflict: Dejavu or New One US-China Trade Conflict: Dejavu or New One Lessons From US-Japan Trade Conflict in 1980s and 1990s Tamotsu Nakamura & Yoichi Matsubayashi Plan of Talk 1. US-Japan Trade Conflict in Retrospect 2. Similarities

More information

Unconventional Monetary Policy: Thoughts on the U.S. and Japanese Experiences

Unconventional Monetary Policy: Thoughts on the U.S. and Japanese Experiences Unconventional Monetary Policy: Thoughts on the U.S. and Japanese Experiences International Conference on Capital Flows and Safe Assets John Rogers Senior Adviser Federal Reserve Board May 27, 2013 The

More information

OUTLOOK FOR GLOBAL ECONOMIC GROWTH AND TRADE IMPACTING GRAIN MARKETS

OUTLOOK FOR GLOBAL ECONOMIC GROWTH AND TRADE IMPACTING GRAIN MARKETS OUTLOOK FOR GLOBAL ECONOMIC GROWTH AND TRADE IMPACTING GRAIN MARKETS SALEEM SHAIK, & FRAYNE OLSON, NDSU &???? OUTLINE General Economic Growth & Trade World regions and U.S. Importance of Agriculture Trade

More information

Setting the scene The ICT landscape in BRIC countries

Setting the scene The ICT landscape in BRIC countries 1 Setting the scene The ICT landscape in BRIC countries / Disclaimer The views expressed are those of the presenter and may not in any circumstances be regarded as stating an official position of the European

More information

Airlines, the economy and air transport demand

Airlines, the economy and air transport demand Airlines, the economy and air transport demand Brian Pearce, Chief Economist, IATA www.iata.org/economics Airline Industry Economics Advisory Workshop 2016 1 Returns for airlines investors lower this year;

More information

German Machine Tool Industry - Key Figures

German Machine Tool Industry - Key Figures German Machine Tool Industry - Key Figures Mill. EUR %-Change 1-2Q 1-2Q 1-2Q 2014 2015 2016 2017 2017 2018 2016 2017 2018 Production total 14.486 15.087 15.007 16.006 7.062 7.820-1 +7 +11 Metal working

More information

Dr. Walter Kemmsies Managing Director, Economist and Chief Strategist JLL Ports Airports & Global Infrastructure (PAGI)

Dr. Walter Kemmsies Managing Director, Economist and Chief Strategist JLL Ports Airports & Global Infrastructure (PAGI) Dr. Walter Kemmsies Managing Director, Economist and Chief Strategist JLL Ports Airports & Global Infrastructure (PAGI) 2019 What is PAGI JLL Ports, Airports and Global Infrastructure Team (PAGI). Unique

More information

Traits of a Global Market for Advanced Human Capital How can the Global Demand for Post-secondary Education be met...

Traits of a Global Market for Advanced Human Capital How can the Global Demand for Post-secondary Education be met... Traits of a Global Market for Advanced Human Capital How can the Global Demand for Post-secondary Education be met... Washington D.C. May 23, 2002 .why are we here? Economic and social development are

More information

Cheese (American, Italian, Hard, Soft, Fresh and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast,

Cheese (American, Italian, Hard, Soft, Fresh and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, Cheese (American, Italian, Hard, Soft, Fresh and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019 ResearchMoz include new market research report" Cheese (American,

More information

An update on Grid parity

An update on Grid parity 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 market volume [TWh] 35.000 30.000 25.000 20.000 15.000 10.000 5.000 - RES COM IND An update on Grid

More information

Trade Winds in Agriculture

Trade Winds in Agriculture Trade Winds in Agriculture November 2, 2018 Dr. Scott Brown MU-CAFNR: Director of Strategic Partnerships brownsc@missouri.edu http://amap.missouri.edu Overview Trade uncertainty has increased as past trade

More information

New rules, new opportunities: a potential for growth

New rules, new opportunities: a potential for growth #TV year New rules, new opportunities: a potential for growth June 19th, 2015 Jacques Balducci Eurodata TV Worldwide Deputy Sales Director Worldwide TV viewing remains strong World daily viewing time Average

More information

Paul Bingham Managing Director, Global Trade and Transportation February 18, 2009

Paul Bingham Managing Director, Global Trade and Transportation February 18, 2009 Economic Outlook and Ports Paul Bingham Managing Director, Global Trade and Transportation February 18, 2009 The Outlook for Trade Depends on Goods Demand Integrated international supply-chains offer efficiencies

More information

Agricultural Trade Office The U.S. Embassy, Seoul

Agricultural Trade Office The U.S. Embassy, Seoul Agricultural Trade Office The U.S. Embassy, Seoul www.atoseoul.com Data Source: Global Trade Atlas (www.gtis.com), CIF Value Basis, This presentation tracks Korea s imports of agricultural products on

More information

Guy Bisson, Ampere Analysis

Guy Bisson, Ampere Analysis Global Cable Trends: Poland s place in the world of cable Guy Bisson, Ampere Analysis October 2017 1 Multi-play RGUs (m) Globally, cable leads in multi-play subscriptions with over 800m multi-play RGUs

More information

STORM FORECASTS: The only independent source of animal health and animal agriculture historical market data and forecasts

STORM FORECASTS: The only independent source of animal health and animal agriculture historical market data and forecasts The only independent source of animal health and animal agriculture historical market data and forecasts June 2016 1 What is STORM FORECASTS? STORM FORECASTS is the only independent source of animal health

More information

Urbanization and sustainable development David Satterthwaite, IIED

Urbanization and sustainable development David Satterthwaite, IIED Urbanization and sustainable development David Satterthwaite, IIED How can urbanization be a problem if All rich nations are highly urbanized; all the poorest nations predominantly rural All the most successful

More information

Market Opportunities for Irish Dairy 2025

Market Opportunities for Irish Dairy 2025 Market Opportunities for Irish Dairy 2025 National Dairy Conference 2014 Red Cow Moran Hotel, Dublin Aidan Cotter Chief Executive Wednesday, 19 th November, 2014 AIDAN COTTER BORD BIA CHIEF EXECUTIVE 28

More information

Market Report Series Oil SIEW 2017 launch - 28 March 2017

Market Report Series Oil SIEW 2017 launch - 28 March 2017 Market Report Series Oil 2017 SIEW 2017 launch - 28 March 2017 Oil demand continues to grow but at a slower pace 2.0 Global oil demand growth 2014-2022 1.5 1.0 0.5 0.0 2014 2015 2016 2017 2018 2019 2020

More information

Japanese Market Potential

Japanese Market Potential Growth Strategy (announced on 14 June 2013) : Japan is BACK. Overall Target: 2% Real GDP Growth in the next 10 years JPY1.5 million Increase of GNI/capita after 10 years Unleash the Potential of Private

More information

Some Facts About Output

Some Facts About Output Some Facts About Output GNP as a Percentage of GDP in 2009 Country % Kuwait 110,38 United Kingdom 102 Japan 103,14 United States 99,24 China 100,87 Germany 101,41 Mexico 98,34 Poland 96,76 Ireland 81,19

More information

RIETI World KLEMS Symposium Growth Strategy after the World Financial Crisis 2014 May 20, JP Tower & Conference, Tokyo.

RIETI World KLEMS Symposium Growth Strategy after the World Financial Crisis 2014 May 20, JP Tower & Conference, Tokyo. RIETI World KLEMS Symposium Growth Strategy after the World Financial Crisis 2014 May 20, JP Tower & Conference, Tokyo Masahisa Fujita RIETI/Konan University/Kyoto University 1. Introduction: The Three

More information

Global Expansion Guided by Long-term Perspectives and the Made in Toray * Spirit

Global Expansion Guided by Long-term Perspectives and the Made in Toray * Spirit Toray s Global Operations Toray s way Global Expansion Guided by Long-term Perspectives and the Made in Toray * Spirit Toray is continually strengthening and expanding its global production network in

More information

sector: recent developments VÍTOR CONSTÂNCIO

sector: recent developments VÍTOR CONSTÂNCIO The economy and the banking sector: recent developments VÍTOR CONSTÂNCIO January 2006 Recent performance of the economy and prospects Factors behind the period of slow growth Challenges to the Banking

More information

Driving Korean Innovation for the the Next Production Revolution

Driving Korean Innovation for the the Next Production Revolution Driving Korean Innovation for the the Next Production Revolution Dr. Robert D. Atkinson President, ITIF May 24, 2018 @RobAtkinsonITIF @ITIFdc About ITIF The top ranked science and tech policy think tank

More information

The globalisation of sporting events: Myth or reality?

The globalisation of sporting events: Myth or reality? Khalifa Stadium, Qatar. Photo: Igor Magic The globalisation of sporting events: Myth or reality? Søren Bang, Play the Game 203, 30 October 203 The globalisation of sporting events: Myth or reality? Photo:

More information

The triggers of Competitiveness

The triggers of Competitiveness The triggers of Competitiveness South versus North and the impact of the crisis A few remarks using the case of auto industry Patrick Pélata Conference in National Bank of Belgium, Brussels, December 6th

More information

Mobarakeh Steel Company (MSC) Can Iranian slabs & HRC support SE Asian steel industries?

Mobarakeh Steel Company (MSC) Can Iranian slabs & HRC support SE Asian steel industries? (MSC) Can Iranian slabs & HRC support SE Asian steel industries? JAKARTA June 2018 Iranian slab, an opportunity for SE Asia flat producers Overview of global slab trade Slab trade in SE Asia (MSC) An overview

More information

The Changing Global Trade Landscape

The Changing Global Trade Landscape The Changing Global Trade Landscape Top 10 Leading Economies in 2050 Nominal GDP Country (US$ Trillion) China 44.5 United States 35.2 India 27.8 Japan 6.7 Brazil 6.1 Russia 5.9 United Kingdom 3.8 Germany

More information

Toray s Global Operations. Share it...

Toray s Global Operations. Share it... Toray s Global Operations Share it... 23 With strategic presence and advanced technology, growing with communities Toray Group s global production began to expand in 1963 with the commencement of fiber

More information

Confidence through experience. Track record as of 30 June 2012

Confidence through experience. Track record as of 30 June 2012 Confidence through experience Track record as of 30 June 2012 Harvesting the full potential of wind Confidence is built through experience. During more than 30 years in the wind industry we have installed

More information

The structure of the euro area recovery

The structure of the euro area recovery The structure of the euro area recovery Rolf Strauch, Chief Economist JPMorgan Investor Seminar, IMF Annual Meetings Washington, October 2017 The euro area: a systemic player in global trade Trade openness

More information

The 11th Korea Prime Minister Cup International Amateur Baduk Championship

The 11th Korea Prime Minister Cup International Amateur Baduk Championship The 11th Korea Prime Minister Cup International Amateur Baduk Championship Buan County, South Korea We are pleased to announce that the 11 th Korea Prime Minister Cup (KPMC) will be held on the 3rd-9th

More information

China s Industrial Capabilities and Trade

China s Industrial Capabilities and Trade China s Industrial Capabilities and Trade Loren Brandt Thomas Rawski June 16, 2005 Key Facts: China, 2003 Population: 1.3 billion (1 st ) GNP: $US 1.4 trillion (3 rd ) Foreign Trade: $US 850.1 (3rd) GNP

More information

Challenges for the International Trade System Tokyo, Japan, May 28, Shang-Jin Wei Professor, Columbia University

Challenges for the International Trade System Tokyo, Japan, May 28, Shang-Jin Wei Professor, Columbia University Challenges for the International Trade System Tokyo, Japan, May 28, 2018 Shang-Jin Wei Professor, Columbia University Useful to think of Short-term challenges Medium-term challenges Long-term challenges

More information

University of Groningen & The Conference Board Asia s Productivity Performance and Potential: A Sectoral Perspective

University of Groningen & The Conference Board Asia s Productivity Performance and Potential: A Sectoral Perspective University of Groningen & The Conference Board Asia s Productivity Performance and Potential: A Sectoral Perspective Bart van Ark and Marcel Timmer Groningen Growth and Development Centre May 2003 Dynamics

More information

Global Economic Briefing: Industrial Production

Global Economic Briefing: Industrial Production Global Economic Briefing: Industrial Production November 27, 2017 Dr. Edward Yardeni 516-972-7683 eyardeni@ Debbie Johnson 4-664-1333 djohnson@ Mali Quintana 4-664-1333 aquintana@ Please visit our sites

More information

Hotel Performance and Outlook

Hotel Performance and Outlook Hotel Performance and Outlook HICAP 2016 Jesper Palmqvist 20 October apinfo@strglobal.com 2016 STR, Inc. All Rights Reserved. Any reprint, use or republication of all or a part of this presentation without

More information

Maximizing Tourism Marketing Investments A Canadian Perspective

Maximizing Tourism Marketing Investments A Canadian Perspective Maximizing Tourism Marketing Investments A Canadian Perspective Understanding the potential of markets Economics: GDP; Inflation; Unemployment; Employment; Disposable Income; Private Consumption; Consumer

More information

Susan J. Adams, PhD IMF-PFTAC Coordinator

Susan J. Adams, PhD IMF-PFTAC Coordinator A MACROECONOMIC PORTRAIT OF THE PACIFIC: A Presentation for PEGASeS August 16, 2007 Susan J. Adams, PhD IMF-PFTAC Coordinator Compiled by the IMF Asia and Pacific Department Edited by PFTAC OUTLINE OF

More information

The Eurozone integration, des-integration and possible future developments

The Eurozone integration, des-integration and possible future developments The Eurozone integration, des-integration and possible future developments 18 th Monetary Policy Workshop at the Berlin School of Economcs and Law, 12 13 October 2017 Overview Position 1: The euro itself

More information

Forecast evaluation report Robert Chote Chairman

Forecast evaluation report Robert Chote Chairman Forecast evaluation report 2017 Robert Chote Chairman Background to the FER The FER is an annual report looking at the performance of past EFO forecasts against the latest outturn data Rationale Accountability

More information

INTERNATIONAL STUDENT STATISTICAL SUMMARY Spring 2017 (Final)

INTERNATIONAL STUDENT STATISTICAL SUMMARY Spring 2017 (Final) INTERNATIONAL STUDENT STATISTICAL SUMMARY Spring 2017 (Final) Prepared By: Mr. Jay Ward, Associate Director Office of International Programs San Francisco State University Non-Matriculated SP 17 SP 16

More information

Max Sort Sortation Option - Letters

Max Sort Sortation Option - Letters Max Sort Sortation Option - Letters Western Europe Prices Product Code PS5 PS6 Austria* 0.330 7.550 0.330 7.400 Belgium* 0.370 3.700 0.370 3.540 Denmark* 0.620 5.350 0.620 4.215 Finland* 0.385 4.400 0.385

More information

Feeding fish to fish is this a responsible practice?

Feeding fish to fish is this a responsible practice? Feeding fish to fish is this a responsible practice? Andrew Jackson Technical Director International Fishmeal & Fish Oil Organisation Humber Seafood Summit 15 July 2010 IFFO International Fishmeal and

More information

US imports from emerging economies have grown rapidly

US imports from emerging economies have grown rapidly US imports from emerging economies have grown rapidly Ratio to GDP (current dollars) 0.07 US merchandise imports, 1978 2008 0.06 0.05 0.04 0.03 0.02 Industrial Non-OPEC other 0.01 0 OPEC = Organization

More information

Henley Global Masterclasses 2017 Henley Business School, Greenlands, Henley-on-Thames Friday 12 May 2017

Henley Global Masterclasses 2017 Henley Business School, Greenlands, Henley-on-Thames Friday 12 May 2017 The End of the Golden Era for Global Investing Prof Sotiris Tsolacos International Capital Markets Association (ICMA) Centre and School of Real Estate & Planning Henley Global Masterclasses 2017 Henley

More information

Beef Cattle Market Update

Beef Cattle Market Update Beef Cattle Market Update August 8, 2017 Dr. Scott Brown Agricultural Markets and Policy Division of Applied Social Sciences University of Missouri brownsc@missouri.edu http://amap.missouri.edu Twitter

More information

Major Issues and Trends Facing the Port and Marine Transportation Industry

Major Issues and Trends Facing the Port and Marine Transportation Industry Major Issues and Trends Facing the Port and Marine Transportation Industry Presented to: AAPA Marine Terminal Management Training Program April 24, 2006 Charleston Riverview Hotel Charleston, SC - USA

More information

Worst economic crisis since WWII and lack of funds posing internal and external barriers to internationalisation

Worst economic crisis since WWII and lack of funds posing internal and external barriers to internationalisation Hot Topics Dr Janet Ilieva International Education Intelligence Unit Setting the context Worst economic crisis since WWII and lack of funds posing internal and external barriers to internationalisation

More information

Percent

Percent Outline Outline Growth is picking up Percent 6 Advanced economies Emerging and developing economies 5 4 4.9 5.0 4.3 4.4 4.6 4.7 4.7 3.7 3.7 3 2 2.0 2.3 1.6 2.2 2.3 1.9 1.7 1 1.1 1.3 0 2012 2013 2014 2015

More information

The Future of the World s International Education

The Future of the World s International Education The Future of the World s International Education long-term driving forces or trends that influence almost everything at all levels of societal development. They have great importance now, and we are relatively

More information

International Trade Trends 2010 Review and 2011 Outlook

International Trade Trends 2010 Review and 2011 Outlook International Trade Trends 2010 Review and 2011 Outlook Nancy D. Sidhu, Ph.D. Chief Economist The Kyser Center for Economic Research LAEDC May 18, 2011 International Container Traffic at Nation s Major

More information

KEF-2016: Reforms for Inclusive Growth November 3 4, 2016

KEF-2016: Reforms for Inclusive Growth November 3 4, 2016 KEF-2016: Reforms for Inclusive Growth November 3 4, 2016 On the verge of the new economic cycle how to set up for the failure, and how not to Andrey Movchan, Senior Associate and Director of the Economic

More information

Predicting the Markets: Chapter 12 Charts: Predicting Currencies

Predicting the Markets: Chapter 12 Charts: Predicting Currencies Predicting the Markets: Chapter 12 Charts: October 5, 218 Dr. Edward Yardeni Chief Investment Strategist Mali Quintana Senior Economist info@yardenibook.com Please visit our sites at www. blog. thinking

More information

More than half the world lives on less than $2 a day

More than half the world lives on less than $2 a day More than half the world lives on less than $2 a day PRB s 2005 World Population Data Sheet reveals persisting global inequalities in health and well-being Presentation by Bill Butz, Carl Haub, Linda Jacobsen,

More information

Agricultural Trade Office The U.S. Embassy, Seoul

Agricultural Trade Office The U.S. Embassy, Seoul Agricultural Trade Office The U.S. Embassy, Seoul www.atoseoul.com Data Source: Global Trade Atlas (www.gtis.com), CIF Value Basis, This presentation tracks Korea s imports of agricultural products on

More information

Arms industry statistics

Arms industry statistics BRIEFING PAPER Number CBP 7842, 21 December 2016 Arms industry statistics By Rachel Kift and Rob Page Contents: 1. Global defence export market 2. UK defence export market www.parliament.uk/commons-library

More information

A record Quarter and Year for the Group

A record Quarter and Year for the Group 14 January 2019 2018 and FY18 Trading Update Steve Ingham Kelvin Stagg Chief Executive Officer Chief Financial Officer A record Quarter and Year for the Group LSE: PAGE.L Website: http://www.page.com/investors

More information

U.S. Overview. Gathering Steam? Tuesday, October 1, 2013

U.S. Overview. Gathering Steam? Tuesday, October 1, 2013 U.S. Overview Gathering Steam? Tuesday, October 1, 2013 Uneven global economic recovery Annual real GDP growth projections (%) Projections 2013 2014 World 3.1 3.1 3.8 United States 2.2 1.7 2.7 Euro Area

More information

Grasshoppers, Ants and Locusts: the future of the world economy

Grasshoppers, Ants and Locusts: the future of the world economy Ralph Miliband Series on the Restructuring of World Power Grasshoppers, Ants and Locusts: the future of the world economy Martin Wolf Associate editor and chief economics commentator, Financial Times Professor

More information

World supply and demand of tilapia

World supply and demand of tilapia World supply and demand of tilapia by Helga Josupeit FAO Rome, October 2010 World tilapia production World tilapia production has been booming during the last decade, with output doubling from 830000 tonnes

More information

Market Report Series Oil 2017

Market Report Series Oil 2017 Market Report Series Oil 2017 Neil Atkinson, Head Oil Industry & Markets Division, IEA International Institute for Strategic Studies, Bahrain, 17 September 2017 Oil demand continues to grow but at a slower

More information