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Evaluating intermediate goods trade flow in the new century: stylized facts for explaining vertical specialization

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  • Juan Pablo Domínguez

Abstract

Global trade has shown steady growth rates for the last 30 years. The globalization process and market entry of new economies as in the case of China has given a new dynamic of trade to the system. This has had implications in many spheres of the economical and political world and many have accused China of having “excessive” competitiveness in its products, which in turn has affected other economies. This paper tries to analyze the flow of intermediate goods between several economies with the aim to provide a benchmark for measuring trade integration. Results show that China’s main export destination for intermediate goods still remain to be its Southeast Asian partners, although their share in the total amount has been reduced. Latin America has had the biggest gains in terms of intermediate goods from China while Japan has lost much of its vitality. ****** Resumen El comercio mundial ha mostrado tasas de crecimiento constante durante los últimos 30 anos. El proceso de globalización y la entrada al mercado de nuevas economías, como en el caso de China, ha dado una nueva dinámica del comercio en el sistema. Ésto ha tenido repercusiones en muchos ámbitos del mundo económico y político, muchos han acusado a China de tener competitividad "excesiva" en sus productos, que a su vez ha afectado a otras economías. Este trabajo analiza el flujo de bienes intermedios entre varias economías con el objetivo de proporcionar un punto de referencia para la medición de la integración comercial. Los resultados muestran que el principal destino de las exportaciones de China, para los bienes intermedios, aún queda para sus socios del sudeste asiático, aunque su participación en el total se ha reducido. América Latina ha tenido las mayores ganancias en términos de bienes intermedios procedentes de China, mientras que Japón ha perdido gran parte de su vitalidad.

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  • Juan Pablo Domínguez, 2013. "Evaluating intermediate goods trade flow in the new century: stylized facts for explaining vertical specialization," Escenarios: Empresas y Territorio, Institución Universitaria ESUMER, January.
    • Handle: RePEc:col:000502:014474
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    References listed on IDEAS

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    4. Matthieu Bussière & Bernd Schnatz, 2009. "Evaluating China’s Integration in World Trade with a Gravity Model Based Benchmark," Open Economies Review, Springer, vol. 20(1), pages 85-111, February.
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