Is East Asia’s Economic Fate Chained to the West?
35 Pages Posted: 10 May 2012
Date Written: May 9, 2012
In the past few decades, East Asia has become a key player in the global value chains of products that are consumed in Western markets. In this paper, we discuss how idiosyncratic shocks propagate through global value chains, and assess how this has affected East Asian countries’ vulnerability to demand shocks in the West.
Keywords: global value chains, international trade, East Asia, international transmission of business cycles
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