Trade and industrialisation after globalisation’s 2nd
unbundling: How building and joining a supply
chain are different and why it matters
Richard Baldwin
Graduate Institute, Geneva
Abstract
Revolutionary transformations of industry and trade occurred from 1985 to the
late-1990s – the regionalisation of supply chains. Before 1985, successful
industrialisation meant building a domestic supply chain. Today, industrialisers
join supply chains and grow rapidly because offshored production brings
elements that took Korea and Taiwan decades to develop domestically. These
changes have not been fully reflected in “high development theory” – a lacuna
that may lead to misinterpretation of data and inattention to important policy
questions.
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