"What I see to be the study’s second-most important finding is that, contrary to common perception, **only about 18 percent of the global goods trade is now driven by lower labor costs** (labor arbitrage), that in many chains this share has been declining throughout the 2010s, and that global value chains are becoming more knowledge-intensive and rely increasingly on highly skilled labor." ([Location 2602](https://readwise.io/to_kindle?action=open&asin=B08SGC3TD3&location=2602)) --- **Tags** -- [[quotes]], [[globalisation]], **Source** -- [[202412030828 - B - How the World Really Works]]