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The World Bank's World Development Report 2020 highlights that a 1 per cent increase in participation in GVCs is estimated to boost the per-capita income levels by more than 1 per cent, which is about twice as much in the case of conventional trade expansion. Thus, participation in GVCs can boost inclusive and sustainable growth, reduce poverty, and create sustainable employment opportunities with better pay and income.

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The United Auto Workers (U.A.W.) union has voted to approve a tentative labor deal with General Motors Co clearing the path for members to vote on the proposal, which presents significant wage gains and job commitments for the next four years.

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