Study on Promoting Industrial Upgrading in the Guangdong-Hong Kong-Macao Greater Bay Area Under the Belt and Road Initiative—From the Perspective of the Global Value Chain
From the perspective of the global value chain(GVC)and based on the analysis of the GVC position and characteristics of the Guangdong-Hong Kong-Macao Greater Bay Area(GBA),this article examines the theo-retical mechanism of how the Belt and Road Initiative(BRI)could promote the GBA's ascent in GVCs and proposes the potential paths for the GBA to achieve GVC ascent and industrial upgrading by leveraging the BRI.The results show that the GVC position of the GBA is moving up towards the middle and high ends along the traditional"smile curve,"while also promoting the flattening of the"smile curve."However,certain challenges remain for further as-cent.The BRI provides major opportunities for industrial upgrading in the GBA in terms of expanding the GVC hori-zontal division of labor network,promoting"two-way opening up"and"self-centered"GVC construction.The GBA can rely on the BRI to overcome the challenges of being"captured"in GVCs and achieve industrial upgrading through multiple paths,such as actively shaping the GVCs centered on developing countries,proactively embedding in GVCs led by developed countries,and independently expanding a self-centered GVC.
global value chainthe Belt and Road InitiativeGuangdong-Hong Kong-Macao Greater Bay Areaindustrial upgrading
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