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How have the COVID-19 pandemic and trade tensions transformed global value chains?

2021-06-02T13:14:01+08:00April 23, 2021|Videos|

How have the COVID-19 pandemic and trade tensions transformed global value chains?

The pandemic exposed the vulnerabilities of global value chains (GVCs) as lockdowns disrupted supply lines across economies. However, the ASEAN+3 region remains a prime location for GVC investment post-pandemic.

The “flight to digital” has given the region an opportunity to upgrade and strengthen its role in GVCs. Meanwhile, rival technologies pose risks to GVCs. The post-pandemic world calls for more globalization. Post-pandemic, policy making should focus on: 4th Industrial Revolution-targeted infrastructures, more resilient crisis policy frameworks, and sustainable funding to rebuild fiscal space.

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