Abstract
Early on, Western economies largely benefitted from international trade, which was made possible by global supply and value chains. In the last decades, the developing world has significantly increased its participation in global trade. The balancing of the developments to avoid economic losers and geopolitical frictions along the way is one of the major concerns and challenges of modern times.
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Notes
- 1.
AEO stands for Approved Economic Operator. It is a standard term assigned by the World Customs Organization for supply chain security programs. AEO programs are structured within the WCO SAFE Framework of Standards to Secure and Facilitate Global Trade. The AEO program has been developing steadily since its inception and there are now 53 countries with operative AEO programs with over 30,000 certified companies. Additionally, there are another 11 country AEO programs in development. As of March 2014, 168 out of 179 World Customs Organization (WCO) members have signed letters of intent committing to implement the SAFE Framework. (Source: WCO, goaeo.com)
- 2.
G20: The Group of Twenty (G20) includes 19 individual countries – Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, and the USA – along with the European Union (EU), which is represented by the European Commission and by the European Central Bank. These economies combined command 85% of the global economy.
- 3.
- 4.
More information can be found at the Council on Foreign Relations: http://www.cfr.org/asia-and-pacific/asean-association-southeast-asian-nations/p18616
- 5.
Further information can be acquired at http://asean.org/asean-economic-community/
- 6.
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Lehmacher, W. (2017). Global Supply Chain: Golden Gate or Sword of Damocles?. In: The Global Supply Chain. Management for Professionals. Springer, Cham. https://doi.org/10.1007/978-3-319-51115-3_2
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