Like every democratically elected president in Taiwan before her, in her first term, President Tsai proposed and implemented various industrial policies designed to create new or bolster hopefully emergent industries. Unfortunately, industrial policy has proven to be increasingly irrelevant in...

This paper analyses the integrated circuit and pharmaceutical GVCs to determine the scope of technical upgrading and value capture achieved by Chinese and Indian contract R&D firms within these GVCs. There are three main findings. First, the two sectors differ significantly in terms of the...