What is the gvc?

The GVC, or Global Value Chain, refers to the full range of activities that businesses engage in to bring a product or service from conception to delivery and beyond across international borders. It encompasses various stages, including design, production, marketing, and distribution, often involving multiple countries where different components of the product are created. GVCs highlight the interconnectedness of global economics and the specialization of regions in particular stages of production. Understanding GVCs helps businesses optimize operations and adapt to global market changes.