Trade Restructuring : Assessing Labor Market and Welfare Effects (Английский)

This paper assesses patterns and drivers of current trade restructuring and its welfare implications. The main trade restructuring drivers include lower cost advanced technologies, rising offshore labor costs, and recent shocks like COVID-19, trade disputes, and geopolitical tensions. Data on bilateral trade flows show that the United States and the European Union have reoriented their trade relationships. Between 2017 and 2023, for example, U.S...
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