ECON1089: The Department of Foreign Affairs and Trade of Australia will be hosting a workshop on the Global Value Chains (GVCs): Business in globalised economy Assignment, RMIT, Singapore

Problem Description:

The Department of Foreign Affairs and Trade of Australia will be hosting a workshop on the Global Value Chains (GVCs), challenges, and opportunities for Australia, with participants from academia, industry, government, and non–profit organizations. As a participant, you will present a report that gives a relevant example of GVCs and illustrates the implications for the labor market.

Your report should:

1. Give an example of GVCs which involves at least three countries. Insert a
diagram/figure of this GVC. Identify the key activities done by key participating
countries in this GVC.

2. Elaborate the theoretical foundations of GVCs. Explain what determines each keyvcountry’s participation and position along the GVC in your example.

3. Theoretically, analyse the wage impact of GVCs for skilled and unskilled workers in developing countries. Repeat the analysis for developed countries. Then empirically, discuss the evidence from the real world in relation to the wage impact of GVCs.