The social and economic impact of COVID-19 About two-third of global trade takes place within value chains14 and China has become a major centre of world manufacturing. About 20 percent of global trade in manufactured intermediate goods originates in China today, a share that has quintupled from 4 percent in 2002.15
14 Dollar, D. (2019). Invisible links: Value chains transform manufacturing – and distort the globalization debate. Finance and Development, June 2019. IMF. 15 UNCTAD (2020). Technical note. Global trade impact of the Coronavirus (COVID-19) Epidemic. Division of International Trade and Commodities, UNCTAD.
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