Tran­si­tion set to boost Asian in­te­gra­tion

China Daily (Canada) - - BUSINESS -

Re­gional eco­nomic in­te­gra­tion in Asia is ex­pected to deepen fur­ther as China moves up the in­ter­na­tional value chain de­spite weak­en­ing trade growth, ex­perts who fol­low China’s on­go­ing eco­nomic tran­si­tion said. “China’s grow­ing im­por­tance in the value chain will in­evitably in­flu­ence its eco­nomic and trade struc­tures with these ma­jor economies (in Asia),” said Chen Lan, di­rec­tor of Deloitte Re­search at Deloitte China, in a re­port for the on­go­ing Boao Foroum for Asia in­Hainan. The re­port said that China’s fu­ture in­dus­trial up­grade through in­no­va­tion will en­hance its po­si­tion in the global value chain as ris­ing pro­duc­tion costs and la­bor costs in the coun­try may weaken its po­si­tion as the “world’s fac­tory.”

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