Norms for Global Governance
The need to manage systemic global risks and to promote global social goods requires better global governance. The accountability of national leaders to their citizens is often in conflict with the need to act in the global public interest. This tension is apparent in problems as diverse as the global financial crisis and problems involving climate change, freshwater scarcity and ocean acidification.
Managing the New Global Division of Labour
Recent changes in how different stages of the production chain are dispersed across the globe have led to the notion of a new global division of labor. This will have far-reaching consequences for the skills required from the workforce, their jobs, and the economy as whole in both developed and developing countries.
Global Value Chains in a Changing World
Having become more intensively integrated into the global supply chains has brought many new business opportunities to particularly East Asian firms in the past two decades. The latest financial crisis and the successive European debt crisis have, however, forced many of them to rethink their business strategy of how to reposition themselves in the global supply chains to better consider the rapidly changing global economic situations and to actively deal with global challenges. One key element here is innovation. Firms from the traditional industries need to raise the knowledge intensity of their business operations; those from service industries need to intensify their knowledge base of services provided and firms from the high-tech industries need to increase the extent and depth of their innovation activities. All these are expected to increase firms’ innovation intensity, enabling them to move along the global value chains and to take over higher value added tasks of the global production networks.
Globalisation as the great unbundling(s): implications for skills
The new wave of globalization – in which outsourcing and offshoring include not only unskilled and manufacturing jobs, but also skilled and service sector jobs – makes new demands on education and training systems around the world. Globalization is no longer just about trade in things that can be put in a box, but also about trade in everything that can be digitalized.