The unequal gains of globalization
For many years, the global South has been the key battleground for anti-globalization activists who have campaigned to stall the forces of globalization in developing economies. The RIETI study shows that the emergence of global value chains has benefited firms and workers in emerging economies such as China and India, while those in advanced economies have lost out. Using this measure to compute the value-added in manufacturing by major economies of the globe based on data from the World Input-Output Database, the RIETI researchers show that between 1995 and 2011, India almost doubled its share in real GVC income arising from manufacturing. India’s integration into the global economy has not only benefited Indian industry, but also raised job opportunities for workers involved in producing for global value chains, the RIETI study shows. A disaggregated export share analysis of labour intensive industries by Pankaj Vashisth of the Indian Council for Research on International Economic Relations shows that the share of high-skilled industries in India’s labour intensive exports has been rising over the past couple of decades.
Trade data shows that India is well placed to ride the global recovery in exports
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