Global Value Chains have helped make the world more prosperous. Making them more efficient will make the global economy more resilient to future shocks.
Manufacturing has traditionally driven economic growth in developing countries. A new book by the World Bank highlights the potential of the service sector in driving development. What are the implications of this shift for least developed countries?
The multilateral trading system and the body of trade rules enshrined in the World Trade Organization (WTO) rulebook have been the cornerstone for trade-led economic development in recent decades.
The combined and cumulative effect of pre-existing technological, policy and sustainability trends and the current COVID crisis is set to strike a perfect storm in the system of international production and GVCs.
The COVID-19 pandemic is a testament to the global value chain (GVC) world we live in; what happens in one country has profound impacts, intended and unintended, across countries.
The collapse in trade provoked by the coronavirus pandemic has exposed the fragility of carefully constructed supply chains in the global fashion industry, and the asymmetries with which they are governed.
Least developed countries (LDCs) confront a challenging global trade landscape, from slower long-term growth rates and rising protectionism to a weakening nexus between trade and GDP growth.