According to WIPO, one-third of the value of manufactured goods sold globally, or $5.9 trillion, comes from “intangible capital,” the third-largest being textiles and apparel.
In 2016, Vietnam was the biggest beneficiary country for new outlays in the sector with declared new projects valued at $2.7 billion, followed by Ethiopia with $636 million.
Employment fell in Cambodia’s garment sector despite a 7.2 percent increase in exports in 2016, the study found.
A U.N. study forecasts continued strong economic growth in the three countries over the next few years.
The figures, while generally up, showed a slowdown in production in developing economies.
The pro-economic globalization remarks by Xi mark a turning point in multilateral diplomacy.
A number of top WTO envoys used the session to voice their apprehensions about growing antitrade sentiment.