International Relations: Politics, Economics, Law


In recent decades, the rapid development of the international division of labor has led to the fact that the production of the same product and related procedures have been carried out by several countries of the world. Due to this, the share of intermediate goods and components, as well as services, is increasing in the structure of world trade. The development of the Internet and ICT has led to the emergence of new activities such as electronic commerce, outsourcing and offshoring. Economic development has become more dependent on innovative technological development, foreign direct investment and the activities of transnational corporations that generate them. According to UNCTAD, such intra- and inter-firm global value chains (GVDCs) already account for more than 80% of world trade.

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