There is now wide recognition that global trade increasingly involves spreading the production of a final good over firms in several countries, with each one undertaking what is better described as a ‘task’ in the overall process rather than the production of a discrete good or service (WTO-IDE, 2011). These changes, which result from the internationalisation of global production and the fragmentation of trade across countries, have occurred as capital has become increasingly mobile under the accelerated pace of financial globalisation. Their implications have been increasingly analysed through the lens of global value chain (GVC) analysis.