Asia trade

Global trade flows shift to Asia

A new survey of business trends by Ernst &Young points to Asia dominating world trade during the next decade.
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Trade was top of the agenda at the Apec Leaders' summit in Hawaii (AFP)
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<div style="text-align: left;"> Trade was top of the agenda at the Apec Leaders' summit in Hawaii (AFP) </div>

Global trade will continue heading eastwards and intra-regional trade in Asia will lead to a renewed concentration of global demand, according to an Ernst Young paper published in conjunction with Oxford Economics this week.

The total value of international trade is set to increase from 30% to 37% of world GDP by 2020, while the balance of that trade is likely to shift permanently to the East. World trade in goods will total around $35 trillion, two-and-a-half times its value in 2010, and in services it will double to about $6 trillion. Asia-Pacific will experience the fastest rate of growth in global trade, led by China and India,...

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