Global value chains in the current trade slowdown

Michael J Ferrantino, Daria Taglioni, 6 April 2014



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.

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

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