70% of world trade is between multinational corporations – new OECD estimate

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Seems like the long quoted estimate of 60% of world trade being between related parties is now out of date.

70% of world trade is now apparently between related parties according to discussion here this afternoon.

And not one penny, cent or yen of this appears in the accounts of multinational corporations — which is precisely why we need country-by-country reporting if they are to reflect the economic realities of the world.