Is foreign capital withdrawal historical opportunity or realistic challenge for Chinese firms to upgrade their global value chain (GVC)? Based on the framework of demand and supply, this study examines the impact and main characteristics of foreign capital withdrawal on upgrading Chinese...

This paper presents a model in which economies of scope in production play a key role in a vertically-linked production structure. It identifies the divergence in the degrees of economies of scope and the attribute spaces of the products in different stages of production as a fundamental...

Why does the current wave of globalization create more public concern/opposition than previous rounds of trade liberalization? This paper identifies a key difference between globalization and trade liberalization that could be responsible for it. It is shown that while both globalization and...