Redefining Global Markets by Erika Majzlíková

Author:Erika Majzlíková
Language: eng
Format: epub
ISBN: 9783031560422
Publisher: Springer Nature Switzerland

4.2 Regionalisation of GVCs: Global Overview

Directly, almost 15% of the world’s population works in manufacturing. This was the case from the 1970s to the mid-2010s (see Fig. 4.8 or Felipe & Mehta (2016)).1 However, if we look at the global employment shares in manufacturing in Fig. 4.8, we see a steady decline from 2014 onwards, with more visible slumps in 2018–2020 (Lábaj & Majzlíková, 2023). This decline is mainly driven by a decrease in the contribution of China and Latin America. In contrast, the share of manufacturing employment in Europe and North America remained relatively stable in the second half of the 2010s. These findings significantly alter our view of the global distribution of employment and open the door to speculation about which countries and sectors manufacturing employment has shifted to, and how this has affected the structure of global value chains.

Fig. 4.8Observed employment in manufacturing by world region, in %

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