Global Value Chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade.
The International Bank for Reconstruction and Development (IBRD) focuses on middle income and creditworthy poor countries and the International Development Association (IDA), which focuses on the poorest countries in the world..
The World Bank is made up of two unique Development institutions owned by its 185 Member Countries.
The organization\'s activities are focused on education, health, agriculture and rural development, environmental protection, establishing and enforcing regulations, infrastructure development, governance and legal institutions development.
It is a vital source of financial and technical assistance to developing countries around the world.
About the Author The World Bank came into formal existence in 1945 following the international ratification of the Bretton Woods agreements.
GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
It concludes that technological change is, at this stage, more a boon than a curse.
World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to Development through GVCs and trade.
And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs.
New technologies could draw production closer to the consumer and reduce the demand for labor.
Meanwhile, serious threats have emerged to the model of trade-led growth.
Since the 2008 Global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled.
This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries.
Global Value Chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade
