TRANSFORMATION OF WORLD ECONOMY ARCHITECTURE: GLOBAL VALUE CHAINS IN THE PERIOD OF COVID-19 PANDEMIA
In: STATE AND MUNICIPAL MANAGEMENT SCHOLAR NOTES, Band 1, Heft 2, S. 158-168
The prospects of world economy architecture transformation are in the center of attentation of national and international organizations and research community today. The article shows that the vector of such transformation is given by changes in functioning of global value chains (GVC) that determine the development of world trade and competition of global actors. The quarantine and countries' isolation in the period of COVID-19 pandemia destroyed seriously GVC, pandemia put sharply the question before countries about the effectiveness of GVC, the search for national reserves and opportunities and, finally, about new world economy architecture creation. At the same time there is argued in the article that even before pandemia globalization was not total: there were viewed the decrease in level of production fragmentation and activization of regionalization processes. The author underlined that the intention of GVC actors to keep equilibrium unger modern political situation creates the prerequisites for reformatting of GVC and transformation of the whole world economy architecture.