Global value chain theory revolutionizes industrial upgrading for developing countries.
The article discusses how industries in developing countries can improve by moving up the global value chain. This means they can increase their value and competitiveness by focusing on higher-value activities. The key is to align with the right stage of industry development and technology level. For example, in the electronics industry, different regions and companies may need different strategies for upgrading. Governments need to consider these differences when creating industrial policies.