GENERAL INTRODUCTION TO REGIONAL VALUE CHAIN RECONSTRUCTION UNDER THE FRAMEWORK OF CHINA’S BELT AND ROAD INITIATIVE

Abstract

As a consequence of the continued growth of the global division of labour, the division of labour that occurs inside the global value chain has evolved into the practise that is generally accepted in a number of multinational industries. However, due to the sluggish state of the global economy and the rise of trade protectionism in the last several years, international cooperation among states in global value chains has been hampered. Reviving the division of labour throughout the global value chain is an urgent problem that has to be addressed in today's interconnected global economy. If China's policies concentrate on researching the reconstruction of regional value chains within the context of the Belt and Road cooperation framework, China may be able to make a contribution to the economic revival of both the regional and global economies.