The World Development Report (WDR) 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. Advanced economies pursue open, predictable policies. A 1 percent increase in GVC participation is estimated to boost per capita income by more than 1 percent, or much more than the 0.2 percent income gain from standard trade. Founded in California in 2002, its mission is to "transform local communities by investing in global heritage.". World Employment and Social Outlook. UNESCO (United Nations Educational, Scientific and Cultural Organization) Global Education … Ease of Doing Business . Global flows of foreign direct investment (FDI) will be under severe pressure this year as a result of the COVID-19 pandemic. It along with the US produce services that are being increasingly traded and embodied in manufactured goods. Innovation leads to new traded goods and services– substantiated by the fact that in 2017, 65 percent of trade took place in categories which did not exist in 1992. High female employment – The percentage of women employed in firms related to GVCs is more than the ones employed in non-GVC firms. In a worst-case scenario, if trade conflict worsens and causes a slump in investor confidence, up to 30.7 million people could be pushed into poverty (below $5.50 a day), and global income could fall as much as $1.4 trillion. Global value chains (GVCs) account for almost 50% of global trade today. Use desktop mode to see this page in better way. The 2020 Global Multidimensional Poverty Index (MPI) data and publication “Charting pathways out of multidimensional poverty: Achieving the SDGs” was released on 16 July 2020. These vital resources are expected to fall sharply from 2019 levels of $1.5 trillion, dropping well below the trough reached during the global financial crisis and undoing the already lackluster growth in international investment over the past decade. The 2020 report for the first time ranks cities around the world by their subjective well-being and digs more deeply into how the social, urban and natural environments combine to affect our happiness. India in top five (fourth position) in terms of seizure of opium in 2018. It … For the IAS Exam, the key findings of WDR 2020, the meaning of GVCs and India’s performance with GVC participation are important for prelims and mains (GS 2, GS 3) exams. Despite lifting 271 million people out of poverty between 2005-15, India still remains home to 28% (364 million) of the world’s poor. The ‘Human Life Indicator’ [HLI] has been proposed as a ‘simple effective means’ of measuring development and, more specifically, as a viable alternative to … Reforms in transportation and communication infrastructure can bring benefits to remote locations of the countries. Executive Summary English | Français | Español | Русский | العربية | 中文 (pdf) Italiano | Deutsch | Português | हिन्दी | Korean(pdf) 3. The 2019 Revision of World Population Prospects is the twenty-sixth round of official United Nations population estimates and projections that have been prepared by the Population Division of the Department of Economic and Social Affairs of the United Nations Secretariat. The information in this article is based on that report. Boost in trade – New technologies create both opportunities and risks: These technologies favour trade and GVCs. In the age of GVCs, the need for greater international cooperation is particularly urgent. The 2020 report for the first time ranks cities around the world by their subjective well-being and digs more deeply into how the social, urban and natural environments combine to affect our happiness. ... World Development Report . 10. It puts a stress on the natural resources – Any trade if accompanied by production or energy subsidies promotes excess production that further leads to depletion of natural resources. The absence of major trade initiatives and growing trade conflict could make it more difficult for developing countries to benefit from GVCs. Context: Making a case for creating more formal jobs, the World Bank in its draft World Development Report 2019 said in India the pay-offs in the formal sector are over twice as much as in the informal sector, which is among the largest in the world. The World Bank. How the countries are ranked? Theme: “Trading for Development in Age of Global … An IEEE Spectrum report, the Beijing-based company is set to send the world’s first mining robot named ‘asteroid mining robot’ into space by November 2020 to identify and extract resources. The sustainable development solutions network of United Nations releases World Happiness report on 20 th March of every year as the UN celebrates World Happiness Day on this day.. GVC leads to structural transformation in developing countries by driving people out of less productive activities towards more productive manufacturing and service activities. 1818 H Street, N.W. It promotes the trade of skills and technology leading to growth in countries at a much faster rate. For example, Human Development Index (HDI) is prepared by UNDP as part of Human Development Report. Q. On October 30, 2020, the World Bank released the migration and development brief report. 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