Global restructuring of ICT production continued in 2007 and 2008, with Asia, Eastern Europe, Mexico and some new locations becoming increasingly important as producers and growth markets. Global ICT trade has expanded strongly and was almost USD 1.5 trillion higher in 2007 than the peak of 2000. ICT trade slowed in 2007 and the first half of 2008 as world economic conditions weakened. Nevertheless, ICT trade continued to increase, due to the resilience of some OECD ICT imports and strong demand from some emerging markets. An important question is whether the demand for new ICT products, coupled with growth in emerging economies (in Asia but also in other countries) will compensate for the very sharp downturn in OECD countries. ICT-related FDI increased to historically high levels in 2007 with non-OECD economies increasingly active, notably in ICT mergers and acquisitions, but with a marked slowdown in global merger and acquisition activity and FDI flows in 2008 as the OECD area went into recession.