Economics · International Trade
With reference to Global Value Chains (GVCs), consider the following statements: 1. Backward participation refers to the use of foreign value added in exports. 2. Forward participation refers to domestic value added used in other countries' exports. 3. Higher GVC participation automatically ensures a trade surplus. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2 and 3
- 21 only
- 32 only
- 41 and 2 only✓
Correct answer
1 and 2 only
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