Factory Europe – changes in trade and GVC
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Three main regions can be distinguished: Factory Asia, Factory Europe, and Factory North America with three main hubs: Germany, China, and the USA. These headquarters economies link Factories. The paper presents changes that have occurred in the regional pattern of supply-chain trade in the global economy and in the Factory Europe from 2005 to 2015. I2E trade matrixes are prepared for the first and last year of the analyzed period. Changes in sourcing and sales patterns are discussed in the same years. The article uses data in gross terms and measured by value added. As a result, I analyze the developments that took place at the beginning of the 21st century in the global economy and Factory Europe. Global value chains combined with China are gaining importance in the global economy. In Factory Europe, in connection with the enlargement of the European Union, new member states are becoming an essential part of GVC combined with other mega-regional blocks by Germany.