Global value chains in the current trade slowdown

Michael J Ferrantino, Daria Taglioni 06 April 2014

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Global value chains (GVCs) involve trade in goods that have multiple production stages that take place in many different countries (that is, ‘production fragmentation’ or ‘slicing up the value chain’), and in which multiple imports and exports of intermediate goods are necessary to produce a final good, which may also be exported. Since the emergence of the North American GVC in automobiles in the 1960s and the East Asian electronics GVC in the 1970s, the role of GVCs in international trade has become more important and has attracted increasing attention.

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Topics:  International trade

Tags:  great trade collapse, global value chains, trade slowdown

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