The concept of global value chain (GVC) emphasizes the global scale and structure of many value chains as a result of the internationalization of production. GVCs have been critical for development and jobs in many countries particularly in emerging markets. The Nanyang Centre for Emerging Markets (CEM) takes stock of current trends in GVCs and examines how recent international developments may impact GVC and ultimately emerging markets’ growth.
This issue report surveys the dynamics of GVCs in the East Asian region over the last two decades, based on available data on value-added trade. It presents insights into emerging patterns of production relocations that follow from the recent US-China trade war and comments briefly on the potential impacts of the COVID-19 pandemic on global value chains.