Global value chains: The production revolution of the 21st century

Technological advances, cheaper shipping and globalisation of trade have transformed how multinational companies make products and distribute them worldwide. Their supply chains can connect several countries, with different parts of goods and services sourced in different countries in a coherent interconnected network. These are called global value chains (GVC) and they create many opportunities for firms and people, but to take advantage of them, it is essential to better understand how they work, how they affect economic performance and what governments can do to ensure their economies benefit more from them.

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