ABSTRACT
A consensus has been reached that new technologies changed the shape of international trade and global value chains (GVC) have a major impact on the location of goods and services. After the global financial-economic crisis of 2008, new “landscape” has been formed in the world trade system, which creates new tasks for policymakers. The wide network of the GVC has been established during some years, entailing new reality for economic development. As far as international trade is considered to be the means of creating jobs, increasing wages and improving working conditions, the issue deserves a lot of attention of the scientists and policymakers. The offshoring of labor-intensive manufacturing stages and the attendant international mobility of technology launched era-defining growth in emerging markets, a change that fosters and is fostered by domestic policy reform. International cooperation in trade policy issues must be rethought in the light of GVCs.
