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World Development Report 2020: Trading for Development in the Age of Global Value Chains
By World Bank
eBook
$34.99
By World Bank
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Global value chains (GVCs) powered the rapid expansion of international trade after 1990. Countries import not only for domestic consumption, but also to export, and transactions typically involve long-term, firm-to-firm relationships rather than anonymous spot market transactions. Trade and the rise of GVCs enabled an unprecedented convergence: poor countries grew faster and began to catch up with richer countries. More than 1 billion people escaped poverty as a result. Since the Great Rec...