Asian countries like Japan, China, Singapore and Vietnam add value to their industrial chains by controlling the high-margin stages of research and development (R&D) design, engineering, branding and after sales services while using advanced manufacturing, automation, and skilled labour to convert raw materials and imported inputs into differentiated high-quality finished goods. They strengthen backward integration by developing local suppliers for components and machinery; build forward linkages through processing and branding to capture more of the final product value, and invest heavily in skills, standards, and innovation ecosystem that enable firms...