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“Global Value Chain” in East Asia. Michitaka Nakatomi President Japan External Trade Organization(JETRO). Implications of WTO/IDE study. Issues of "global value chains" and "vertical specialization" highlighted

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global value chain in east asia

“Global Value Chain” in East Asia

MichitakaNakatomi

President

Japan External Trade Organization(JETRO)

implications of wto ide study
ImplicationsofWTO/IDEstudy
  • Issuesof"globalvaluechains"and"verticalspecialization"highlighted
    • Diversityandcomplementaritiesofproductionnetworkscause"fragmentedvaluechains"
    • The concept of "country of origin" isbecoming increasingly difficult to apply
  • Importanceofloweringtradebarriers
  • Anewtraderegimeis needed,asfirms go beyond national boundaries
the regime should include
Theregimeshouldinclude:
  • Wider regionalcoverage
  • Universality
  • Eliminationoftradebarriers
    • Freermovementofgoods,services,capital,peopleandtechnologies
  • Contributiontoglobalbusinessactivities
importance of wto
ImportanceofWTO
  • WTOasauniversalregime
    • WTOasaregimeforensuringcompanies\'productionsandactivitiesglobally
    • SwiftconclusionofDohaRoundnecessary
  • Aregimethatprovidessolutionstobusinesschallengesisneeded
    • Notonlytariffs,butalsoanti-dumpingrules,tradefacilitation,tradeandinvestment,competitionpolicyandintellectualpropertyrights,etc.cf.ChapterIV of the study:necessitytodealwithNTMs
  • Speed : Business requires a regime which responds quickly to its needs.
complementary regimes for wto
Complementaryregimes for WTO
  • FTAs
    • Bilateral
    • Regional
  • PlurilateralAgreements(suchasITA)
  • Otherbilateralorregionalcooperation

⇒ Consistency with WTO rules is required

japan s action and global value chains in east asia
Japan\'sactionandglobalvaluechainsinEastAsia
  • SupplychainsinEastAsia
    • Deepeningofintra-regionaltrade
    • Thewidespreadsystemofsupplychains
  • Japan\'ssupportforWTOregime
    • Only17%ofJapan\'stradeiswithFTApartners
    • A multilateral-basedtraderuleisthebestsolution
major flow of intermediate goods and finished goods in asia electrical electronic
Major Flow of Intermediate Goods and Finished Goods in Asia (Electrical/Electronic)

1.6times (23.3←14.4)

US/

Europe

5.9times(124.4←21.1)

6.5times (25.1←4.6)

South Korea

1.1times

(27.4←24.2)

10.9times

(29.4←2.7)

1.8times(8.2←4.7)

Japan

China/

Hong Kong

3.2times (36.7←11.6)

1.6times(8.7←5.4)

4.9times (21.9←4.5)

9.8times (43.8←4.5)

Taiwan

ASEAN

1.3times (19.1←15.1)

Flow of finished goods

Flow of intermediate goods

2.1times (35.1←16.8)

2008←1998

2008←1998

* Electric/electronic machinery export value (billion USD)

Source: RIETI-TID(2009), White Paper on International Economy and Trade 2010 (METI)

slide9

Japan’s supporttowards the multinationalization of business

Vertical/horizontal integration across borders

1. Promotion of FDI

inward /outward FDI

See next page

2. Trade liberalization

3. Contribution to international

trade rules (ITA, ACTA etc.)

japan s outward fdi by country region international investment position end of 2009
Japan’s Outward FDI by Country/Region (International Investment Position, End of 2009)

Total: 740 billion USD

Sources: Prepared by JETRO from Ministry of Finance and Bank of Japan balance of payment and cross-border investment statistics, and Bank of Japan foreign exchange rates.

master plan on asean connectivity
Master Plan on ASEAN Connectivity
  • To build the ASEAN Community by 2015, ASEAN designed a plan focused on Physical Connectivity (transportation, energy, ICT etc.), Institutional Connectivity (trade facilitation, MRAs etc.) and People-to-People Connectivity (tourism, education, culture etc.).
  • ERIA, ADB, UNESCAP and other International Organizations helped the ASEAN Secretariat in drafting the work.
  • The Master Plan was presented at the 17th ASEAN Summit in 2010.

Source: ERIA

slide12

Japan’s support fostering:

1. Connectivityin soft infrastructure

1) FTAs

E.g. (Completedwith):

Singapore, Malaysia, Thailand, Indonesia, Brunei,

Philippines, Vietnam, ASEAN, India

(Under negotiation with): Korea, Australia

(Under study with): China and Korea, Mongolia,ASEAN+3,

ASEAN+6

2) Trade facilitation

3) IPR protection, etc.

2. Connectivity in hard infrastructure

Infrastructure development

3. People-to-people connectivity

Human resource development (HRD)

Creating connectivity in ASEAN and with

the surrounding region

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