Intra-regional trade in the North-Eastern Asia: trends and prospects

Abstract

International separation of the production process and, as a result, forming of the complex regional and global production networks influences international trade. Increase in the amount of world trade in the last decades is connected with increasing of trade in intermediate goods which are used in the international production of final products. The greatest contribution to the world trade by intermediate goods is made by intraregional flows of commodities of the countries of the European Union, Eastern Asia and the member countries of NAFTA. Feature of the Eastern Asia is that the amount of intermediate trade of economies of the region steadily increased during the considered period against the background of reduction of amounts in the Northern America and Europe. In this article the main tendencies of international trade in the subregion of SVA are considered. The countries of "Big Triad" (the People's Republic of China, the Republic of Korea, Japan) take the leading positions in the intraregional export and import of intermediate products though for the export of the People's Republic of China the role of the Eastern Asia decreased that is connected with the growing integration of the country at the world markets. The shares of countries in trade in the primary goods and final products are changed during the considered period that is connected with the change of roles of the countries in the regional production networks.