  Based on the misleading expectation that weighted network properties always
offer a more complete description than purely topological ones, current
economic models of the International Trade Network (ITN) generally aim at
explaining local weighted properties, not local binary ones. Here we complement
our analysis of the binary projections of the ITN by considering its weighted
representations. We show that, unlike the binary case, all possible weighted
representations of the ITN (directed/undirected, aggregated/disaggregated)
cannot be traced back to local country-specific properties, which are therefore
of limited informativeness. Our two papers show that traditional macroeconomic
approaches systematically fail to capture the key properties of the ITN. In the
binary case, they do not focus on the degree sequence and hence cannot
characterize or replicate higher-order properties. In the weighted case, they
generally focus on the strength sequence, but the knowledge of the latter is
not enough in order to understand or reproduce indirect effects.
