Global Value Chains and New Challenges Facing the Global Economy

Authors

  • Viktor Nikolayevich Kirillov State University of Management
  • Yana Vladimirovna Miller State University of Management

DOI:

https://doi.org/10.24412.2072-8042-2021-2-86-97

Keywords:

global value chains, reshoring, industrial policy, global crisis, offshoring

Abstract

This 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 offshoring 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.

Author Biographies

Viktor Nikolayevich Kirillov, State University of Management

Doctor of Economic Sciences, Professor
Place of work, post: State University of Management (99 Ryazanskiy Prospekt, Moscow 109542) - World Economy and International Economic Relations Department

Yana Vladimirovna Miller, State University of Management

Place of work, post: State University of Management (99 Ryazanskiy Prospekt, Moscow 109542) - Postgraduate student; World Economy and International Economic Relations Department

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Published

2024-01-28

How to Cite

Kirillov, V. N., & Miller, Y. V. (2024). Global Value Chains and New Challenges Facing the Global Economy. Russian Foreign Economic Journal, (2), 86–97. https://doi.org/10.24412.2072-8042-2021-2-86-97

Issue

No. 2 (2021)

Section

World economy

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