w88 casino News Network (Contributed by Global Value Chain Research Institute)On November 16, 2021, the third global value chain development report - "Global Value Chain Development Report 2021: Beyond Production" (Global Value Chain Development Report 2021: Beyond Production), organized by the Institute of Global Value at the w88 casino, was officially released. This online press conference was hosted by the Asian Development Bank (ADB), and Elisabetta Gentile, an economist at the Asian Development Bank, presided over the press conference. Asian Development Bank President Masatsugu Asakawa(Masatsugu Asakawa) and the Director-General of the World w88 OrganizationNgozi Okonjo-Iweala delivered speeches respectively and spoke highly of the third development report.

Asakawa Masatsugu, President of the Asian Development Bank(Masatsugu Asakawa)Speech

Director-General of the World w88 OrganizationSpeech by Ngozi Okonjo-Iweala

Professor Xing Yuqing, the lead editor of this report and the Overseas Dean of the Institute of Global Value Chains at the w88 casino, as the main publisher of the report, introduced the content and main findings of each chapter of this report. Senior statistician of the Asian Development Bank Joseph Mariasingham, WTO economist Victor Stolzenburg, University of California, Irvine (UC Irvine) Professor Etel Solingen, and WTO Economic Affairs Officer Kathryn Lundquist attended the online conference of the report as panellists.

The previous two global value chain development reports emphasized how global value chains affect economic development and overall growth ("Global Value Chain Development Report 2017") , and how global value chains affect the lives of workers in developing and developed economies in a world of rapid technological advancement and automation (Global Value Chain Development Report 2019), but both reports focus on manufacturing production, while this report goes beyond previous frameworks to emphasize other aspects of global value chains beyond the manufacturing production process.

Specifically, this report looks at global value chains from aspects beyond production such as intangible assets, intellectual property and digital platforms, deepening our understanding of the key role of global value chains in the global economy. The report particularly emphasizes that global value chains dominated by factoryless manufacturers, as well as new business models that combine intellectual property rights with international direct investment and export intangible asset services to global customers through global value chains, pose profound challenges to the traditional w88 statistics framework. After introducing the conceptual framework of "w88 in Factor Income (TiFI)", the report found that if the "missing value" (Missing Value) related to w88 in intellectual property services is taken into account, the size of global value chains may be twice what is usually reported. If the factor income w88 framework is used to re-estimate the Sino-U.S. w88 balance, the Sino-U.S. w88 surplus is about 1/3 less than the value recorded under the gross w88 (Gross w88) statistical system, and is also 17.4% lower than the estimate under the value-added w88 (TiVA) statistical framework.

In addition, this report discusses several “beyond manufacturing” aspects of GVCs, namely: the role of GVC participation in promoting productivity growth and improving innovation performance; how services value chains can amplify the benefits of GVC participation in developing countries; and services-led growth. growth) provides new avenues for development; the potential of digital platforms in promoting a more inclusive globalization by promoting the participation of micro, small and medium-sized enterprises in global value chains; risk issues in global value chains (including three major types of risks: environment, geopolitics and the new crown pandemic), etc. Finally, the report also pointed out that although the COVID-19 pandemic has put tremendous pressure on global value chains, there has been no widespread "reshoring of production" in response to the COVID-19 pandemic, and the global value chains have shown strong resilience in meeting the demand for food and basic medical supplies after experiencing the initial disruption.

Masatsugu Asakawa, President of the Asian Development Bank, noted, “This report breaks new ground, showing that added value in global value chains is increasingly generated outside of manufacturing. As we recover from the COVID-19 pandemic, our understanding of where value is created and how it is shared has deepened, requiring us to reinvigorate value chains to increase opportunities to participate in the global economy, especially for low-income economies and small and medium-sized enterprises.”

WTO Director-General Ngozi Okonjo-Iweala also mentioned that the theme of this report on "Beyond Manufacturing" reflects the general trend of the realization of value increasingly relying less on manufacturing and more on intangible products such as services and intellectual property. This change has great significance for our understanding of how value is produced and distributed through w88.

This report is jointly written by the Institute of Global Value Chains of the w88 casino (RIGVC-UIBE), the Asian Development Bank (ADB), the World w88 Organization (WTO), the Institute of Asian Economic Research (IDE-JETRO), and the China Development Research Foundation (CDRF), and is publicly released on the official websites of the above institutions.

It is reported that since 2015w88 casino Global Value ChainSince its establishment, the institute has been committed to planning, organizing and writing a series of reports on the development of global value chains. Since the first report in 2017, the Institute has been the leader and organizer of the Global Value Chain Development Report, and has coordinated the writing and editing of the invited authors. The writing and release of this report played an important role in leading international research on global value chains and establishing and expanding w88 casino's international reputation in the field of global value chain research. Currently, the Global Value Chain Research Institute of the w88 casino is actively preparing for the translation of the Chinese version of the third report. Please continue to pay attention to the official website and WeChat official account of the Global Value Chain Research Institute for follow-up information.

Attachment:World w88 Organization News Link

https://www.wto.org/english/news_e/news21_e/publ_15nov21_e.htm

Asian Development Bank News Link

https://www.adb.org/news/missing-value-global-value-chains-presents-growth-opportunity