Global Value Chain and Supply Chain

Abstract

Traditional international trade and international trade statistics only involve two types of countries (importing and exporting countries), and most theoretical studies also study trade issues as relating to these two types of countries. With the rise of the global value chain, especially the involvement of value chain trade in many countries, it not only brings great difficulties to statistics, but also challenges researchers and decision makers. In the 2020 World Development Report, the World Bank pointed out that at present, more than 50% of global trade is intermediate trade, so trade based on the global value chain has the core characteristics of current globalisation. 1 According to the Organisation for Economic Co-operation and Development (OECD), it is estimated that 70% of today’s international trade involves global value chains, and only 30% are still traditional international trade. Hence, further understanding and promoting the construction of the Belt and Road also need to be studied in this changing world economic environment.