The Global Value Chain Development Report 2019: Technology Innovation, Supply Chain Trade and Workers in a Globalized World was released in the 2019 Spring Meetings of the World Bank Group and the International Monetary Fund (IMF) on April 13, 2019. Lin Jianhai, secretary-general of the IMF, presided over the press conference.
"Global value chains continue to evolve and play a critical role in global trade. This report improves our understanding of their evolution and the role they play in labour markets in developed and developing countries. GVCs provide new opportunities for countries, sectors and firms to participate in global trade." Robert Koopman, WTO Chief Economist, said.
The report emphasized that designing domestic policies to enhance the substantial benefits of GVC participation while addressing potential adjustment costs will help ensure trade and GVCs generate inclusive growth that benefits all.
"Global value chains are critical to poverty reduction because they influence where jobs go, who gets them, and what types of jobs they are." Caroline Freund, World Bank Group Director of Trade, Regional Integration and Investment Climate, said, fully acknowledging the importance of the report.
The Global Value Chain Development Report 2019 which deepens and enhances the research on global value chains, enriches the first such report, the Global Value Chain Development Report 2017. As one of the core products of the Research Center for Global Value Chains (RCGVC), the University of International Business and Economics (UIBE), the report has significant international influence. The report was jointly compiled by RCGVC-UIBE, WTO, the World Bank, OECD and IDE-JETRO, and was released on the official websites of the above-mentioned institutions. (Zhang Chen)