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Oluchi Odimuko's Artifacts on my key lessons on GVCs.pptx

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Oluchi Odimuko
Oluchi Odimuko

My Artifact on lessons learnt on the course, "Trade for Development in the age of GVCs". This is also taking into consideration of my job experience at my current place of work being a private sector development expert. Nigeria as a nation need to be highly industrialized with beneficiation of raw materials for the exportation of highly value-add products which will be determined by the nation.. Until this is done with good leadership of the country, Nigeria's industrialization remains at the whims of bad leadership with high external influence.

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Trading for Development in the Age of GlobalValue Chains (WDR 2020) Key Learnings from Week 1 to Week 5 Oluchi Odimuko (Donluchis)
Week 1 Introduction to GVCs What are GVCs? Fragmented production across countries. Firms specialize in specific tasks, not the entire product. Key Features Hyperspecialization Durable firm-to-firm relationships Benefits of GVCs Increased productivity, technology transfer, and income growth. More effective than traditional trade for poverty reduction and economic growth.
Week 1 GVC Expansion and Challenges Growth Drivers (1990s-2000s): Technological advances in transport and communication. Trade liberalization. Challenges to GVC Expansion: 2008 Financial Crisis: Lower investment and growth. COVID-19 Pandemic: Factory closures and reduced activity. Key Factors for GVC Participation: Factor endowments (labor, capital, resources). Geography, market size, and policies.
Week 2 Macroecono mic Impacts of GVCs Impact on Economic Growth: Value creation through hyper-specialization. Creation of skilled and labor-intensive jobs. Disparities in Gains: Countries controlling key segments capture more profits and technology. Protectionism can limit GVC benefits for developing countries. Key Insight: Developing countries must invest in education, infrastructure, innovation, and R&D to shift from low-skill hubs to high- value activities.
Environmental Impact of GVCs Environmental Impacts: Scale Effect: More production = higher environmental costs. Composition Effect: Shift to environmentally-friendly products. Technical Effect: Cleaner, more efficient technologies. Key Learning: Developing countries need to patent green technologies to stay competitive. Personal Insight: Restrictive trade policies can be counterproductive observed firsthand through my work at the Manufacturers Association of Nigeria (MAN).
Week 4 Policies for GVC Participation Role of Domestic Policies: Proactive policies help countries leverage their strengths within GVCs. Policies must align with factor endowments and comparative advantages. Key Takeaways: Policies ensure inclusive growth through job creation and income distribution. Strategies for job displacement include reskilling programs and job placement services. Environmental sustainability is essential to remain competitive.
The Role of International Cooperation Importance of Cooperation: Policy actions (or inaction) in one country impact others. Threats to Open Trade: Protectionism and policy uncertainty put GVC benefits at risk. Going Beyond Trade Policy: Address trade barriers, subsidies, and state-owned enterprises. Cooperate on taxation, competition policy, market regulation, and infrastructure. Key Insight: Coordinated infrastructure investments (e.g., transport, communications) enhance connectivity and integration.
Conclusion Key Lessons Across Weeks GVCs foster growth, productivity, and poverty reduction through specialization and collaboration. Domestic and international policies play a crucial role in maximizing GVC benefits. Sustainable participation in GVCs requires infrastructure development, innovation, and education. International cooperation is essential to address global challenges and maintain open markets.
My Perspective for Nigeria While I thank you for the insights provided on this course Trading for Development in the Age of GlobalValue Chains, I am of the view that internal policies which are geared towards the economic growth and development may not be supportive of GVCs expansion.This causes friction and reduces trade. Internal growth and development of ones country should be paramount.With much industrialization, then comes GVCs support policies for expansion via international trade.
A Mapping of my GVC functions in my current roles and responsibilities
Thank you

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Oluchi Odimuko's Artifacts on my key lessons on GVCs.pptx

  • 1. Trading for Development in the Age of GlobalValue Chains (WDR 2020) Key Learnings from Week 1 to Week 5 Oluchi Odimuko (Donluchis)
  • 2. Week 1 Introduction to GVCs What are GVCs? Fragmented production across countries. Firms specialize in specific tasks, not the entire product. Key Features Hyperspecialization Durable firm-to-firm relationships Benefits of GVCs Increased productivity, technology transfer, and income growth. More effective than traditional trade for poverty reduction and economic growth.
  • 3. Week 1 GVC Expansion and Challenges Growth Drivers (1990s-2000s): Technological advances in transport and communication. Trade liberalization. Challenges to GVC Expansion: 2008 Financial Crisis: Lower investment and growth. COVID-19 Pandemic: Factory closures and reduced activity. Key Factors for GVC Participation: Factor endowments (labor, capital, resources). Geography, market size, and policies.
  • 4. Week 2 Macroecono mic Impacts of GVCs Impact on Economic Growth: Value creation through hyper-specialization. Creation of skilled and labor-intensive jobs. Disparities in Gains: Countries controlling key segments capture more profits and technology. Protectionism can limit GVC benefits for developing countries. Key Insight: Developing countries must invest in education, infrastructure, innovation, and R&D to shift from low-skill hubs to high- value activities.
  • 5. Environmental Impact of GVCs Environmental Impacts: Scale Effect: More production = higher environmental costs. Composition Effect: Shift to environmentally-friendly products. Technical Effect: Cleaner, more efficient technologies. Key Learning: Developing countries need to patent green technologies to stay competitive. Personal Insight: Restrictive trade policies can be counterproductive observed firsthand through my work at the Manufacturers Association of Nigeria (MAN).
  • 6. Week 4 Policies for GVC Participation Role of Domestic Policies: Proactive policies help countries leverage their strengths within GVCs. Policies must align with factor endowments and comparative advantages. Key Takeaways: Policies ensure inclusive growth through job creation and income distribution. Strategies for job displacement include reskilling programs and job placement services. Environmental sustainability is essential to remain competitive.
  • 7. The Role of International Cooperation Importance of Cooperation: Policy actions (or inaction) in one country impact others. Threats to Open Trade: Protectionism and policy uncertainty put GVC benefits at risk. Going Beyond Trade Policy: Address trade barriers, subsidies, and state-owned enterprises. Cooperate on taxation, competition policy, market regulation, and infrastructure. Key Insight: Coordinated infrastructure investments (e.g., transport, communications) enhance connectivity and integration.
  • 8. Conclusion Key Lessons Across Weeks GVCs foster growth, productivity, and poverty reduction through specialization and collaboration. Domestic and international policies play a crucial role in maximizing GVC benefits. Sustainable participation in GVCs requires infrastructure development, innovation, and education. International cooperation is essential to address global challenges and maintain open markets.
  • 9. My Perspective for Nigeria While I thank you for the insights provided on this course Trading for Development in the Age of GlobalValue Chains, I am of the view that internal policies which are geared towards the economic growth and development may not be supportive of GVCs expansion.This causes friction and reduces trade. Internal growth and development of ones country should be paramount.With much industrialization, then comes GVCs support policies for expansion via international trade.
  • 10. A Mapping of my GVC functions in my current roles and responsibilities