Global Value Chains and New Challenges Facing the Global Economy

Viktor Nikolayevich Kirillov and Yana Vladimirovna Miller
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Viktor Nikolayevich Kirillov: State University of Management, Moscow, Russia
Yana Vladimirovna Miller: State University of Management, Moscow, Russia

Russian Foreign Economic Journal, 2021, issue 2, 86-97

Abstract: ITh is study examines and discusses the negative effects of the current global crisis on global value chains (GVCs), which are amplified by the uncertainty of international trade, the escalation of trade tensions between countries and the impact of digitalization. The traditional GVC model is undergoing a change, so there is uncertainty regarding application of off shoring and reshoring strategies by leading multinational companies. Due to the increased risks in the system of international economic relations, GVCs tend to be shortened, and this poses a new challenge for developing countries in the context of adjusting their strategies for integration into GVCs.

Keywords: Global value chains; off shoring; reshoring; industrial policy; global crisis. (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:alq:rufejo:rfej_2021_02_86-97

DOI: 10.24411/2072-8042-2021-2-86-97

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