…not made in the world?
From the brilliant masterminds at the World Trade organization –
Today, companies divide their operations across the world, from the design of the product and manufacturing of components to assembly and marketing, creating international production chains. More and more products are “Made in the World” rather than “Made in the UK” or “Made in France”. The statistical bias created by attributing the full commercial value to the last country of origin can pervert the political debate on the origin of the imbalances and lead to misguided, and hence counter-productive, decisions. The challenge is to find the right statistical bridges between the different statistical frameworks and national accounting systems to ensure that international interactions resulting from globalization are properly reflected and to facilitate cross border dialogue between national decision makers.
So new label requirements are going to balance trade or something? Maybe I am just to dense to understand the whole point of this initiative, somebody needs to explain it to me.
Here is the link to the WTO.