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Global Value Chain Development Report 2019:

 

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Global Value Chain Development Report 2019:
Technological Innovation, Supply Chain Trade, and Workers in a Globalized World

Brief Summary and Relevance to Pakistan

Omer Hussan Bajwa

Brief Summary

The Global Value Chains Development Report 2019, a joint publication of World Trade Organization, Institute of Developing Economies and four other institutions, deeply and comprehensively analyses global value chains (GVCs) along with technological and economic factors that are transforming them.

The report, first of all, aptly addresses the criticism that is levelled at the loss of manufacturing jobs in developed countries owing to the growth of GVCs. The effect of GVCs on jobs varies from region to region and individual to individual on the basis of their skill levels. This phenomenon is quite evident in developing countries too. Besides this, many beneficial impacts; for instance, more jobs for women, amelioration of the economic condition, reduction in poverty and high demand of skilled personnel, are associated with integration in GVCs. It has been explained that automation may not affect labour-intensive exports from developing countries in the short run. However, the salvation of developing countries lies in embracing digital technologies as the Internet of Things (IoT), artificial intelligence, Big Data, robotics, cloud computing, and 3D printing, among others, are transforming economies. Currently, sectors with greater intensity of technology are more integrated into the complex GVCs.

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