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Centralizing compliance in global or regional shared services centers

new economic powerhouses have emerged in recent years, they have changed the patterns of trade. At the start of the 1990s, global trade was dominated by the developed nations, which accounted for around 80% of merchandise exports. But that share has declined markedly during the past two decades and the recent financial crisis and global recession accelerated the downward trend. By 2010, the advanced economies accounted for a little more than 60% of global merchandise exports and we estimate that the continuing shift toward global outsourcing of production and regional supply chains will further reduce the developed markets’ share of global merchandise exports to approximately 55% by 2020.1 Companies expect to export to more markets during the next few years. In a recent Ernst & Young survey, 30% of corporate executives responded that they anticipate exporting finished products to more than 20 markets in five years.