In addition to the rising trade in components or intermediate products, an entirely new class of tradable services – including financial, engineering, medical, and legal – has emerged. There is reason to believe that these trends will continue.
With these advances, it is easy to imagine a product designed and marketed in Canada, will be assembled in China, using parts sourced from elsewhere in emerging Asia and supported by technicians in India. By breaking down production processes along a global supply chain, firms are better able to find the efficiency gains that have led to increased productivity and lower prices.