Global value chains in times of multiple crises
Efficiency, substitution and resilience are keywords for action.
Efficiency, substitution and resilience are keywords for action.
Left unaddressed, power asymmetries in the world economy can negatively impact industrialization in the Global South.
China’s post-COVID-19 recovery may hold clues to the future of global value chains.
The pandemic is causing massive disruptions to flows of foreign direct investments. Developing countries are likely to be hit the hardest.
The recovery of supply chains can be supported through trade policies and firm-specific initiatives.
Automation and reshoring mitigate risks. Industrial policies aiming to reduce dependence on global supply chains could accelerate the trend.
COVID-19 struck at the core of GVC hub regions, with severe implications for international production networks.
UAE has made headways with efforts to diversify its oil-driven economy and now aims to break into high-tech manufacturing.