I recently had the privilege of taking part in a global value chain workshop put on by Duke University’s Center on Globalization, Governance & Competitiveness (Duke CGGC) in Jamaica and here are my top five takeaways:
- Human capital development (tooling, re-tooling and right tooling) is a critical component to global value chain upgrading.
- Global value chains (GVC) are embedded in local economic, social and institutional dynamics.
- To upgrade in a GVC a country needs to improve coordination and collaboration between the public and private sector and invest in human capital.
- In services segment of a global value chain human capital is the key determinate of value creation, that is because human resources are the principle inputs.
- Standards are the entry point to access the global economy.