The impact of COVID-19 on China’s position in global value chains and countermeasures

Wenyue Dai

doi:10.54691/bcpbm.v32i.2869

Authors

Wenyue Dai

DOI:

https://doi.org/10.54691/bcpbm.v32i.2869

Keywords:

GVCs; COVID-19; China; challenge.

Abstract

Since the outbreak of COVID-19 in 2019, economies around the world have been affected and disrupted. Global value chains, which should be based on mutual trust and international division of labor, have been shaken by trade frictions and the impact of the epidemic. In the aftermath of the outbreak, many countries began to restrict exports involving vital resources and commodities related to their economies and livelihoods to protect their economies, especially in developed countries. These practices will lead to a restructuring of global value chains centered on Chinese manufacturing, which in turn will affect China's position in global value chains. This paper hopes to scientifically argue the epidemic’s impact on global value chains with the help of global data. By quantifying the data, we visualize the changes in global value chains and the impact on China with graphs. And some feasible suggestions are proposed for this phenomenon.

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