“Most studies on global value chains focus on advanced economy multinationals that develop products in-house and retain high-value added activities, while outsourcing low-value tasks, like component manufacturing and assembly, to emerging market suppliers. However, this dynamic is shifting as increasing numbers of emerging market suppliers are becoming multinationals and exerting control over more value chain activities. Initially positioned as suppliers for western brands, these companies have leveraged their roles in global value chains to learn, acquire advanced capabilities, and strategically expand through acquisitions.”