 RESTRUCTURING OF GLOBAL VALUE CHAINS IN THE SECOND DECADE OF THE XXI CENTURY: CAUSES AND CONSEQUENCESEconomic Science, education and the real economy: Development and interactions in the digital age, 2020, issue 1, 80-92 Abstract: One of the major features of contemporary world economy is the organization of trade, production, investment and innovations within large-scale global value chains (GVC). The aim of the paper is to evaluate the present features of GVC and to identify the forces shaping their structure and activities. The study identifies six sustainable shifts in functional and spatial structure, length and fragmentation, factor intensity, internal commodity and service exchange, setting the framework of a new stage in the evolution of the GVC and the world economy as a whole. Changes are further discussed and related to evolution of Chinese economy, new industrial revolution and digital transformation, reindustrialization policies, new strategies of multinational enterprises. The analysis also points out some considerations regarding the effect of these changes on development and their cost to societies. Keywords: Global value chains; Globalization; Trade; Multinational Enterprises (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:vrn:cfdide:y:2020:i:1:p:80-92 Access Statistics for this article Economic Science, education and the real economy: Development and interactions in the digital age is currently edited by Zoya Mladenova More articles in Economic Science, education and the real economy: Development and interactions in the digital age from Publishing house Science and Economics Varna Contact information at EDIRC. |
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