Global value chains break up the production process so that different steps can be carried out in different countries. In the past, a country had to master the production of a whole manufactured product to export it, which rarely happened. With value chains, a country can specialize in one or several activities in which it has a comparative advantage. In this podcast, David Dollar says he’s seen Asia’s economies transformed by value chains in recent years. Before joining Brookings as Senior Fellow at the China Center, Dollar was World Bank Country Director for China and represented the US Treasury in Beijing. Dollar’s recent article on value chains Invisible Links is published in the June 2019 edition of Finance and Development Magazine.
Check out the Dollar and Sense podcast at Brookings.edu