Organizers: Titus Awokuse (Michigan State University), Sunghun Lim (Texas Tech), Fabio Santeramo (University of Foggia), and Sandro Steinbach
Please save the date and plan to participate in our 2022 Annual Meeting on December 11-13, 2022 at the Sheraton Sand Key Resort in Clearwater Beach, FL. The conference will be held in-person and virtually in a hybrid format.
The theme day topic is “Transforming Global Value Chains” and will be organized by a committee made up of Titus Awokuse (Michigan State University), Sunghun Lim (Texas Tech University), Fabio Santeramo (University of Foggia), and Sandro Steinbach (University of Connecticut). A synopsis is included below.
The proposed 2022 IATRC theme day will address the nexus of transforming Global Value Chains (GVCs) from an interdisciplinary perspective. Open markets are critical for global growth and prosperity. In a highly integrated and interdependent global economy, trade liberalization is essential to foster competition, innovation, and development. The rising importance of GVCs is clear proof of how countries can benefit from creating, producing, and exporting a given good. Technological progress, cost efficiencies, access to resources and markets, and trade policies have enabled highly integrated GVCs, making them a dominant feature of the global economy. To date, goods produced in the United States and exported to the European Union may include intermediate inputs from China, Japan, and Malaysia. It may also use raw materials and services from Australia, Brazil, Vietnam, and Uzbekistan. These days, we must think about goods and services as global composites: today’s goods and services are being made in the world.
The proliferation of GVCs challenges conventional wisdom on how we look at global trade flows and, in particular, the policies that we develop around them. For instance, the Trade in Value-Added database published jointly by OECD and WTO has revolutionized our understanding of what is happening in global trade, investment, and production. While services account for less than one-quarter of total trade when measured in gross terms, when accounting for value-added by services in the production of goods, the service sector contributes over 50 percent of total exports in countries such as the United States or European Union. Another impressive development is that bilateral trade balance positions can change when measured in value-added terms. For instance, China’s bilateral trade surplus with the United States was over 25 percent smaller in value-added terms in 2018.
The proposed 2022 IATRC theme day will focus on issues of international importance related to transforming global value chains. Potential areas of interest for the theme day:
- How trade connects countries specialized in production of raw/intermediate/final goods;
- Supply chain and global trade issues w/ focus on transportation and infrastructure;
- Trade policies: sustainability, efficiency and trade disruptions;
- Domestic and trade policies: welfare distribution along the GVC and equity issues (across countries, developed and developing economies)
A Call for Papers for the non-theme day sessions will be distributed this summer and organized by Jonathan Coleman (U.S. International Trade Commission).