2022-05-16-联合国贸易发展委员会-跨国公司2022年投资合发展报告（英）_210页_2mb

Summary and Key Insights from "The Contest for Value in Global Value Chains: Correcting for Distorted Distribution in the Global Apparel Industry"

This book, part of Edward Elgar’s New Horizons on International Business series, explores how value is distributed across global value chains (GVCs), focusing on the global apparel industry in Bangladesh. It argues that GVCs are value creators but often fail to distribute this value equitably due to asymmetric power relations. Key themes and findings include:

1. Value Creation vs. Appropriation in GVCs

• GVCs are primarily engines of value creation but are influenced by contradictory relationships:
  • Collaborative "win-win" dynamics in value creation (e.g., innovation-sharing).
  • Competitive "zero-sum" dynamics in value appropriation (e.g., bargaining over profits).
• High factor intensity (labour in Bangladesh) and "unlimited" supply of cheap labour reduce workers' bargaining power, leading to distorted value distribution.

2. Distorted Value Distribution in the Apparel Industry

• Between Global Buyers & Manufacturers: Contrary to some literature, value capture is balanced—neither side exploits the other.
• Between Manufacturers & Workers: Manufacturers capture most value disproportionately, while wages fail to reflect labour productivity, highlighting exploitation.
• Between Global Brands & Consumers: Consumers benefit from low prices, capturing value despite stagnant or declining apparel prices.

3. Drivers of Value Distortion

• Market fragmentation (low switching costs, competition) benefits consumers but disadvantages suppliers.
• Labour-intensive production minimizes the bargaining power of workers, reinforcing exploitation.
• Trade policies and institutional frameworks often fail to address distortions, particularly in labour rights and fair competition.

4. Proposed Framework for Fair Distribution

• A paradigm of interdependent relationships is proposed, where power derives from cultural norms, institutional contexts, and political systems to ensure "legitimate" behavior.
• Recommendations include:
  • Strengthening civil society and trade unions to advocate for workers' rights.
  • Institutional reforms and partnerships (e.g., ILO’s Better Work program) to enforce fair labour standards.
  • Balancing market competition with regulations to prevent predatory practices by global buyers.

5. Broader Implications for GVC Research

• GVC impacts extend beyond economics to social justice, requiring analysis of multiple stakeholders (workers, governments, civil society).
• COVID-19 exacerbated power imbalances (e.g., order cancellations, price squeezes), amplifying the need for equitable value distribution mechanisms.

Policy Recommendations

• Regulate trade practices to prevent exploitation (e.g., enforce fair pricing, limit cancellations).
• Promote interdependent structures ensuring fair wages and regulate global supply chains to balance corporate and social interests.
• Strengthen labor institutions and leverage international cooperation to address power asymmetries in GVCs.

This book underscores that balancing value creation and appropriation requires multi-stakeholder governance, aligning economic gains with social equity.