The practice of trading and bartering raw materials has existed since the beginning of time. The concept of commodity chains was developed by Terence Hopkins and Immanuel Wallerstein in an attempt to understand the spread of capitalism and economic change. (Bair & Werner, 2011) The emergence of capitalism has led to an anthropogenic phenomenon known as globalization as a means of creating profit and in doing so has altered competitive dynamics (Gereffi 1999). The globalization of economies has led to the construction of production, distribution and consumption chains that transcend the boundaries of the world. Gereffi (1994) identified these chains as Global Commodity Chains, using them as a method to analyze the global economy. Gereffi (1994), a key author in this area of ​​research, defined Global Commodity Chains as; “sets of interorganizational networks grouped around a good or product that connect families, businesses and states to each other within the world economy”. This global interconnectedness arose from commodity chains outsourcing some of their production to other countries as a way to reduce costs and make money. Product chains refer to the entire range of design, production and marketing of a product. (Gereffi 1999) Gereffi (1994) identified three key characteristics of global commodity chains; they have a specific input to output that links the production chain, a geography in the sense that various activities are located in different places and there is a governance structure that determines power relations within the chain. Gereffi (1999) also identified two distinct types of global commodity chains based on this governance structure; manufacturer-driven and buyer-driven. The governance and power structure… halfway through the paper… is particularly evident in Ireland, where attractive tax regulations have led to an influx of American technology companies. Finally, in Gereffi's model little attention is paid to the geographical scale. Yes, commodity geography is recognized on a global scale, but the approach neglects the formation of regional and subnational chains in order to support larger global chains. (Smith et al 2002) Gereffi's most recent research with Joonkoo (2005) sees the evolution of the Global Commodity Chains approach into the theory of Global Value Chains. This new approach encompasses much of Smith and colleagues' criticisms of global commodity chains. The new theory links the concept of value in chains with the global organization of industries. It incorporates governance as a key influence on the chain and sees the hybridization of producer- and buyer-led chains.