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OECD research shows that multilateral agreement to cut red tape in international trade would dramatically reduce trading costs and add a substantial boost to the global economy.
Production processes have become global and markets more integrated as trade costs have fallen on the back of technological progress and trade and investment policy reforms. We can no longer base policy decisions on conventional trade statistics that report the gross value of products and services each time they cross borders. Instead, we need to measure how much and where value is added, said OECD Secretary-General in Beijing.
During his visit China, Angel Gurría attended the Global Value Chains in the 21st Century conference, organised jointly by the OECD, UNCTAD, and the WTO in partnership with China's Ministry of Commerce. The Secretary-General also met with several high level representatives of the Chinese government and business.
Exchange rate levels affect trade flows in agriculture and in the manufacturing and mining sector in China, the Euro area and the United States, though they do not explain in their entirety the trade imbalances in these three economies, this paper finds.
In his speech delivered at the China Development Forum, Mr. Gurría described the OECD strategic response to the crisis. Stronger means making our economies more resilient and able to deliver durable benefits in terms of material well-being. Cleaner is not only in the sense of environmentally sustainable, but also addressing the “darker” side of globalisation, issues like money laundering, corruption and tax evasion that impede us from
Resisting protectionism and reviving stalled trade reforms would help the major emerging economies build on the progress achieved over the past two decades and emerge from the crisis with their trade performance strengthened, says a new OECD report.
As the global economic slowdown threatens to increase food insecurity among the world’s poor, a new OECD report calls on the major emerging economies to ensure their agricultural policies are focussed on long-term sustainability rather than short-term fixes..