Global Value Chains: How to Enhance Resilience under Sudden Shocks?

The vulnerability of global value chains (GVCs) to sudden shocks generated by the COVID-19 pandemic carries risks of destabilization of national economies. Limited studies on this issue give space to debatable assessments (also in Russia) of the expediency of countries’ participation in GVCs. Since...

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Autores principales:	N. V. Smorodinskaya, D. D. Katukov
Formato:	article
Lenguaje:	EN RU
Publicado:	Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”) 2020
Materias:	global value chains trade in value added global supplier networks distributed model of production international business resilience sustainable growth strategies uncertainty covid-19 reglobalization International relations JZ2-6530
Acceso en línea:	https://doaj.org/article/f6afd58174ec411d803c31e3d753203c
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spelling	oai:doaj.org-article:f6afd58174ec411d803c31e3d753203c2021-11-07T14:45:05ZGlobal Value Chains: How to Enhance Resilience under Sudden Shocks?2542-02402587-932410.23932/2542-0240-2020-13-6-2https://doaj.org/article/f6afd58174ec411d803c31e3d753203c2020-12-01T00:00:00Zhttps://www.ogt-journal.com/jour/article/view/700https://doaj.org/toc/2542-0240https://doaj.org/toc/2587-9324The vulnerability of global value chains (GVCs) to sudden shocks generated by the COVID-19 pandemic carries risks of destabilization of national economies. Limited studies on this issue give space to debatable assessments (also in Russia) of the expediency of countries’ participation in GVCs. Since various aspects of such participation have already been widely considered in the Russian literature, we focus on another aspect of the topic — possible strategies of international business (leading MNEs) for enhancing GVC resilience under high uncertainty. The initial section provides background definitions related to the GVC concept, including the treatment of resilience (as the ability of systems to respond flexibly to shocks and adapt to a changed environment through internal restructuring). Then we formulate advantages of the modern distributed model of production and trade in value-added through GVCs, as well as display a typical design of a manufacturing GVC and its global supplier network. Further, we consider stages in the GVCs’ expansion and describe the distributed model vulnerabilities before and during the COVID-19 crisis. On this basis, we systematize strategies of leading MNEs, outlined in 2020, for enhancingGVC resilience in the post-crisis period, with highlighting two directions in MNEs’ activities — 1) restructuring and diversification of supplier networks and 2) optimization of production control through applying digital technologies. We then reveal possible impact of these strategies on GVCs’ regionalization (their transition from a globally distributed to macroregional format), and point to potential shifts in the global production landscape. Final section outlines a new phase of globalization titled reglobalization. We conclude that reconfiguration of GVCs allows developing economies, including Russia, to improve their position in the global production, provided they are ready to implement necessary structural reforms.N. V. SmorodinskayaD. D. KatukovАссоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)articleglobal value chainstrade in value addedglobal supplier networksdistributed model of productioninternational businessresiliencesustainable growth strategiesuncertaintycovid-19reglobalizationInternational relationsJZ2-6530ENRUКонтуры глобальных трансформаций: политика, экономика, право, Vol 13, Iss 6, Pp 30-50 (2020)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	global value chains trade in value added global supplier networks distributed model of production international business resilience sustainable growth strategies uncertainty covid-19 reglobalization International relations JZ2-6530
spellingShingle	global value chains trade in value added global supplier networks distributed model of production international business resilience sustainable growth strategies uncertainty covid-19 reglobalization International relations JZ2-6530 N. V. Smorodinskaya D. D. Katukov Global Value Chains: How to Enhance Resilience under Sudden Shocks?
description	The vulnerability of global value chains (GVCs) to sudden shocks generated by the COVID-19 pandemic carries risks of destabilization of national economies. Limited studies on this issue give space to debatable assessments (also in Russia) of the expediency of countries’ participation in GVCs. Since various aspects of such participation have already been widely considered in the Russian literature, we focus on another aspect of the topic — possible strategies of international business (leading MNEs) for enhancing GVC resilience under high uncertainty. The initial section provides background definitions related to the GVC concept, including the treatment of resilience (as the ability of systems to respond flexibly to shocks and adapt to a changed environment through internal restructuring). Then we formulate advantages of the modern distributed model of production and trade in value-added through GVCs, as well as display a typical design of a manufacturing GVC and its global supplier network. Further, we consider stages in the GVCs’ expansion and describe the distributed model vulnerabilities before and during the COVID-19 crisis. On this basis, we systematize strategies of leading MNEs, outlined in 2020, for enhancingGVC resilience in the post-crisis period, with highlighting two directions in MNEs’ activities — 1) restructuring and diversification of supplier networks and 2) optimization of production control through applying digital technologies. We then reveal possible impact of these strategies on GVCs’ regionalization (their transition from a globally distributed to macroregional format), and point to potential shifts in the global production landscape. Final section outlines a new phase of globalization titled reglobalization. We conclude that reconfiguration of GVCs allows developing economies, including Russia, to improve their position in the global production, provided they are ready to implement necessary structural reforms.
format	article
author	N. V. Smorodinskaya D. D. Katukov
author_facet	N. V. Smorodinskaya D. D. Katukov
author_sort	N. V. Smorodinskaya
title	Global Value Chains: How to Enhance Resilience under Sudden Shocks?
title_short	Global Value Chains: How to Enhance Resilience under Sudden Shocks?
title_full	Global Value Chains: How to Enhance Resilience under Sudden Shocks?
title_fullStr	Global Value Chains: How to Enhance Resilience under Sudden Shocks?
title_full_unstemmed	Global Value Chains: How to Enhance Resilience under Sudden Shocks?
title_sort	global value chains: how to enhance resilience under sudden shocks?
publisher	Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)
publishDate	2020
url	https://doaj.org/article/f6afd58174ec411d803c31e3d753203c
work_keys_str_mv	AT nvsmorodinskaya globalvaluechainshowtoenhanceresilienceundersuddenshocks AT ddkatukov globalvaluechainshowtoenhanceresilienceundersuddenshocks
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Global Value Chains: How to Enhance Resilience under Sudden Shocks?

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