More than two-thirds of world trade occurs through Global Value Chains (GVCs) where production crosses borders before making it to final assembly lines. Digital developments are transforming these GVCs by creating a new digital thread across the chain, allowing for advanced systems of traceability and improved logistics and planning. Moreover, 4IR and its technological advancements have the potential to permeate the physical and virtual borders created from the pandemic and give residents the digital freedom to break out and restore their economic and social activities. SMEs account for 80-99% of firms in any given country, and 60-70% of global employment.
This session evaluated the questions of:
With closed borders, and the disruption of the supply chain, will this trend push countries to source more locally? And if it becomes a long-term trend, will it reduce developing countries’ potential to industrialise through linking into GVCs?
How can 4IR technologies be used to include and integrate marginalised communities and SMEs in global value chains?
What policy measures need to be developed to ensure accelerated uptake of technology through developing country SMEs and their integration in value chains?
How can skilled labour be nurtured in developing countries and be involved in local production that becomes integrated into global value chains?
Are we entering a new era of ‘hunger games’ whereby big corporations will come out as survivors during the recession?
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