ABSTRACT
Global value chains (GVCs) are a defining feature of twenty-first-century trade with three key production hubs emerging in Europe, North America, and Asia. This chapter looks at Asia's position in the context of the global evolution of value chain activity, as well as at the intra- and extra-regional dynamics that underpin Asia's evolving participation. It provides a discussion on an assessment of the evolution of Association of Southeast Asian Nations (ASEAN) participation in GVCs. The chapter explains why participation might be important and how the 'upgrading' debate should be framed. The chapter also explains the role that policy can play in shaping participation. Measurement and analysis of outcomes of participation in GVCs has been couched in terms of economic and social 'upgrading'. OECD analysis has shed more rigorous empirical light on how GVC participation may influence the economic performance of countries, by assessing the relationships between a number of measures of GVC engagement and outcomes associated with such engagement.
