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Major trade trends in East Asia : What are their implications for regional cooperation and growth

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  • Major trade trends in East Asia
  • Ng, Francis; Yeats, Alexander
  • World Bank (WB)


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Title Major trade trends in East Asia
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Sub Title

What are their implications for regional cooperation and growth

Material Type Reports
Author(English)

Ng, Francis; Yeats, Alexander

Publisher

World Bank (WB)

Date 2003
Language English
File Type Link
Subject Economy < Trade

Abstract

This study's empirical findings have positive implications for further efforts to expand East Asian regional trade and cooperation initiatives. Since the mid-1980s regional intra-trade has grown at a rate roughly double that of world trade, and at a rate far higher than the intra-trade of the North America Free Trade Agreement (NAFTA) member countries or the European Union. Evidence based on intra-industry trade ratios or statistics on international production sharing show economic linkages and the interdependence of East Asian economies have considerably strengthened over the past two decades. On a global scale, East Asia (excluding Japan) now originates 19 percent of world trade, which is approximately the same share as the NAFTA member countries.