TRANSFORMATION OF WORLD ECONOMY ARCHITECTURE: GLOBAL VALUE CHAINS IN THE PERIOD OF COVID-19 PANDEMIA

ТРАНСФОРМАЦИЯ АРХИТЕКТУРЫ МИРОВОГО ХОЗЯЙСТВА: ГЛОБАЛЬНЫЕ ЦЕПОЧКИ СОЗДАНИЯ СТОИМОСТИ В ПЕРИОД ПАНДЕМИИ COVID-19

Tatyana G. Filosofova (Философова Т.Г.)
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Tatyana G. Filosofova (Философова Т.Г.): National Research University "Higher School of Economics"

State and Municipal Management Scholar Notes, 2022, vol. 2, 158-168

Abstract: The prospects of world economy architecture transformation are in the center of attentation of national and international organizations and research community today. The article shows that the vector of such transformation is given by changes in functioning of global value chains (GVC) that determine the development of world trade and competition of global actors. The quarantine and countries’ isolation in the period of COVID-19 pandemia destroyed seriously GVC, pandemia put sharply the question before countries about the effectiveness of GVC, the search for national reserves and opportunities and, finally, about new world economy architecture creation. At the same time there is argued in the article that even before pandemia globalization was not total: there were viewed the decrease in level of production fragmentation and activization of regionalization processes. The author underlined that the intention of GVC actors to keep equilibrium unger modern political situation creates the prerequisites for reformatting of GVC and transformation of the whole world economy architecture.

Keywords: world economy architecture; world trade; global value chains; COVID 19 pandemia; new technologies (search for similar items in EconPapers)
Date: 2022
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