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Comment on "Trade and Industrialisation after Globalisation’s Second Unbundling: How Building and Joining a Supply Chain are Different and Why it Matters"
... to build modern industries in relatively big developing countries, step by step, working from final products back to key components and subassemblies (such as engines in cars) under the watchful eye of interventionist developmental states. The current era of export-oriented industrialization, which is sometimes called 'globalization's 2 nd unbundling' (Baldwin, 2011), has opened up a radically new development path. Today, nations seek to industrialize by simply joining a supply chain to assemble final goods or make specialized inputs; they no longer try to build single-nation supply chains from scratch. ...
Contemporary globalization has been marked by significant shifts in the organization and governance of global industries. In the 1970s and 1980s, one such shift was characterized by the emergence of buyer-driven and producer-driven commodity chains. In the 1990s and early 2000s, a more differentiated typology of governance structures was introduced that focused on new types of coordination in global value chains (GVCs). Today the organization of the global economy is entering another phase, with transformations that are reshaping the governance structures of both GVCs and global capitalism at various levels: (1) the end of the Washington Consensus, and the rise of contending centers of economic and political power; (2) a combination of geographic consolidation and value chain concentration in the global supply base, which in some cases is shifting bargaining power from lead firms in GVCs to large suppliers in developing economies; (3) new patterns of strategic coordination among value chain actors; (4) a shift in the end markets of many GVCs accelerated by the economic crisis of 2008-09, which reinforces regional geographies of investment and trade; and (5) a diffusion of the GVC approach to major international donor agencies, which is prompting a reformulation of established development paradigms.
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