Illicit trade: winners and losers
Lourdes Chavarria
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Introduction
Despite the efforts of global organisations, governments and companies in controlling illicit trade, the phenomenon continues to be a latent threat for the global economy. According to the World Economic Forum, the global value of illicit trade and transnational activities is estimated at between 8% and 15% of global GDP, potentially reaching as high as US$12 trillion in 2014. To put this into context, this is approximately the size of China's total economic output in that same year.
Each year, an increasing number...