At the ongoing World Bank/International Monetary Fund Spring meetings in Washington, D.C., World Trade Organization Director‑General Ngozi Okonjo‑Iweala highlighted how the coronavirus pandemic underscored the importance of global value chains for job creation and inclusion. She noted that the COVID‑19 vaccine supply chain offered valuable insight into how a more inclusive redistribution of global supply chains could generate employment across the developing world.
Okonjo‑Iweala explained that global value chains are the backbone of trade, accounting for 45 % to 55 % of world commerce. They serve as forces for inclusion, job creation, and income growth; studies show that as global value chains expand, per‑capita incomes rise. During the pandemic, she met with CEOs of vaccine manufacturers such as Pfizer and Moderna. The Pfizer mRNA vaccine, for example, is produced across 19 countries and 86 manufacturing sites, illustrating the tremendous potential of these networks to create jobs and promote employment.
Building on this argument, Okonjo‑Iweala urged the world to look beyond China and India/Indonesia when expanding global value chains. As supply chains seek resilience by avoiding concentration in a single country, she sees an opportunity to spread them to more developing nations, thereby bringing SMEs and women into the value chain. “Let’s not just talk about ‘China plus one’—which usually means Indonesia or India,” she said. “Let’s consider ‘China plus Morocco,’ ‘China plus Nigeria,’ ‘China plus Senegal,’ ‘China plus Bangladesh,’ ‘China plus Brazil,’ ‘China plus Costa Rica.’ With this approach, global value chains can truly become a force for inclusion.”
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