The policy response to global value chain disruption
نویسندگان
چکیده
This article considers how policymakers should react to the disruption of Global Value Chains, which became dramatically evident during pandemic. It argues that repeated shocks GVCs, as seen in recent years, are not purely random and disjointed events. They result fundamental shifts geopolitical environment, global economy, climate. Firms have concluded international supply chains become endemically riskier, this is changing their risk/efficiency calculus. But there no reason – so far little evidence suggest GVCs will stage a large-scale retreat. Powerful economic forces at work prompt increased reliance on improve operability future. Governments tend overreact when faced with shocks, unnecessarily impede GVCs; more nuanced coordinated responses needed. The WTO can play an important role, promoting resilience GVCs.
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ژورنال
عنوان ژورنال: Global Policy
سال: 2023
ISSN: ['1758-5880', '1758-5899']
DOI: https://doi.org/10.1111/1758-5899.13220