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.
Advances in production technology and a trend towards shorter supply chains make a return to “business as usual” highly unlikely.
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.
COVID-19 struck at the core of GVC hub regions, with severe implications for international production networks.