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More and more trade within TNC value chains

The investment and trade linkage

Global trade is increasingly dominated by the complex and circuitous routes followed by goods and services as they are upgraded into finished products, a recent UNCTAD report entitled “GVCs and Development: Investment and Value Added Trade in the Global Economy” says (see reference). And developing countries’ share of value-added trade is growing rapidly, reports Carla September.

 

According to the report, these “global value chains” (GVCs), orchestrated for the most part by transnational corporations (TNCs), offer opportunities for poor countries to gain access to international markets, just as they offer opportunities for statistical confusion to economists. The ever-more complicated webs of investment and trade, by which raw materials extracted in one country may be exported to a second country for processing, then exported again to a manufacturing plant in a third country, which may then export to a fourth country for final consumption. The authors of the report say that the value chains administered in various ways by TNCs now account for 80% of the $20trillion in trade each year ...


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Find in this article:

Overstated through double counting
Developing countries caught in value chains
Policy implications and critical aspects


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