Grade 12 Business Studies Project - Draft
Import, Export and The Global Supply Chain INTRODUCTION The past few decades have seen important shifts that have reshaped the global trade landscape. As a share of global output, trade is now at almost three times the level in the early 1950s, in large part driven by the integration of rapidly growing emerging market economies (EMEs). The expansion in trade is mostly accounted for by growth in non-commodity exports, especially of high-technology products such as computers and electronics. It is also characterized by three important trends: the rise of EMEs as systemically important trading partners; the growing role of global supply chains; and an ongoing shift of technology content toward dynamic EMEs. These developments in global trade have been associated with increased trade interconnectedness and carry important implications for trade patterns, in particular in response to relative price changes. The aim of this paper is to outline the factors underlying these changes and an...
