Wealth Structure & Change Along the Net Wealth Distribution Source: Daly (2022) Notes: Other Financial Assets include debt securities, listed shares, investment fund shares, and life insurance and annuity entitlements, they do not include pension entitlements or currency given low comparability between the HFCS and QFA. Business wealth includes financial business wealth (unlisted shares and other equity) and nonfinancial business wealth (e.g.
3 Recalibration of global value chains Global value chains experienced considerable change in the 1990s and early 2000s. The reason for this? Rapid globalisation during this period (see Chart 3). The main forces driving this trend were the dismantling of trade barriers, the fall of the Iron Curtain, and China’s integration into the global trading system.