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Value Chain trade has challenged economic implications of conventional trade statistics and transformed bilateral trade relationship into multilaterals. Conventional trade statistics exaggerate trade volumes and bilateral trade imbalances. It is imperative to measure trade in value-added and examine trade relations in the context of global value chains. This book is a collection of research papers on new approaches to measure trade in value-added and the role of global value chains in modern international trade. It introduces the input-out method for measuring trade and a direct approach measuring domestic value-added of China the center of global assembly. In addition, it shows how to analyze trade relations in the context of global value chains.
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