Singapore in the Global Value Chains
Singapore is a small and open economy, with its economic growth highly dependent on international trade. With the momentum of global trade growth being buffeted by increased economic uncertainties and rising trade tensions, does Singapore’s position in the global value chains, or GVCs, stand it in good stead to navigate choppy waters ahead? In this podcast, Associate Professor of Economics and Lee Kong Chian Fellow Chang Pao-Li from the SMU School of Economics, discusses the key findings of her research jointly conducted with Phuong T. B. Nguyen, Postdoctoral Research Fellow from SMU Lee Kong Chian School of Business. They evaluate how intensively the Singapore economy has participated in the GVCs, and characterise Singapore’s key upstream and downstream trade partners in the international production network. They also analyse the position of Singapore in the GVC, and how its position has shifted over the years. The pattern of Singapore’s position is compared with those of major regional exporters including China, Japan, Korea, Taiwan, the US, and the world as a whole.