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The global value chain division of labor system is becoming the latest model for product division and production. International cooperation in division of labor is higher, and production processes are more finely divided. It is an important driving force for the development of the world economy today. Based on existing literature research and analysis of the research progress in global value chain connotation, participation, trade benefits, status of labor division, and global value chain reconstruction, this paper summarizes the contributions and deficiencies of existing research and finally proposes the future development direction of the global value chain.