According to origo.hu, world trade looks different today, István Ábel, analyst of the Hungarian National Bank (MNB) said.
Ábel said that Hungary could produce airplanes, or there can exist a component which could Hungary add to the process. That is why so important to integrate into the international trade even in a higher level of the value chain. Origo reports about the Economist Annual Meeting in Nyíregyháza.
World trade has changed greatly in recent years and decades. The capital has become international, markets are regional, only workforce stayed national. Therefore it is important for Hungary to provide more skilled labor.
Market experencies also reveal that manufacturing countries never earned too much in world trade. You can always make a profit close to the customer. It is seen in the Chinese mobile producing or even in the case of any agricultural products, where producers only get a little from the profit. That is why so important is the education, in order to get more from the profit. The lecturer said that the current policy of the government, which focuses on reindustrialization, can be good if we increase the added value of the country, origo.hu says.
based on the article of origo.hu
translated by Becsi
Photo: MTI – Attila Balazs