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What are the current global networks and flows in materials, goods and…
What are the current global networks and flows in materials, goods and services?
Manufactured goods
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Vietnam
Liberalised trade and investment rules = attractive location for firms wishing to diversify out of China
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USA
Production of automobiles, chemical products, military equipment, aircraft,...
Japan
Vehicles, computer parts, and chemicals.
Services
Tourism
Contraction of cross-border tourism due to lockdown, quarantine measures and restrictions on mobility
Weak recovery in the tourism sector was due to varying vaccination rates and levels of mobility restrictions
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Commercial
Business services avoided large declines during the pandemic due to the widespread adoption of technologies => remote work
Materials/Merchandise
World trade
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Increasing global demands for products that are environmentally sustainable + government policies regulate the trade of high carbon products.
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Covid-19
Income not spent on services may have been diverted to goods, supporting merchandise imports.
Recovery of merchandise trade has been strong but uneven, with exports and imports growing faster in some regions than in others.
Trade recovery has been strongest in Asia and weakest in regions that rely on exports of natural resources.