The risk of supply chain shocks has never been more palpable than today, following compounding crises from the US-China trade war, the COVID-19 pandemic, and the war in Ukraine. Global Value Chains (GVCs), once viewed as a panacea for economic development, are coming under increased scrutiny in different parts of the world. Increasingly complex, cross-border production processes are exposing companies and populations to a multitude of risks. At the same time, it is becoming clearer that greater integration into GVCs does not inevitably lead to improved economic outcomes or shared prosperity, especially for developing countries.
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- Published in
- India
