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Future Fragmentation Processes

Effectively Engaging with the Ascendancy of Global Value Chains

image of Future Fragmentation Processes

Leveraging the power of trade to expand formal employment opportunities, generate greater value addition, assist diversification processes and develop productive capabilities is an aspiration of all Commonwealth governments. These objectives were conveyed clearly at the Commonwealth Trade Ministers Meeting convened in March 2017.

There are areas of mutual interest and where enhanced co-ordination between member countries could enhance trade gains. Because the ability to transmit tacit knowledge through Commonwealth trade, finance and investment networks is inherent in the trade cost advantage shared by members - which exists without formal collaboration – it suggests the sharing of already known best practice could further enhance the gains from more concerted action.

In order to engage effectively with contemporary trade, which manifests as global value chains (GVCs), it is incumbent on governments to better understand corporate strategies. In this publication, as well as taking stock of past performance, we reflect on potential dynamics and future fragmentation processes.

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Growth Identification and Facilitation Framework: A pragmatic Approach for Promoting Economic Structural Transformation

New Structural Economics (NSE) is a framework proposed by Professor Justin Yifu Lin—the former, and first developing country, Chief Economist at the World Bank—for rethinking development. NSE proposes that developing countries focus on ‘what they can potentially do well’ (latent comparative advantages) based on ‘what they have’ (current factor endowments). This stands in sharp contrast with mainstream development thinking, which is preoccupied with using developed countries as a benchmark for identifying ‘what a developing country lacks’ and prescribing how developing countries should emulate developed countries regardless of their initial conditions.

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