With the world economy facing multiple disruptions due to the COVID-19 pandemic, global value chains (GVCs) have been transforming rapidly. Experts and government officials around the world have been stressing that doing business – especially international business – will fundamentally change. Yet, the nature and extent of that change is still unknown.
Therefore, from both a commercial and policymaking perspective, it is crucial to identify accurately how multinational corporations (MNCs) and small and medium enterprises (SMEs) are currently coping with disruption to GVCs, including present and future measures to build resilience. It is also important to explore to what extent those measures are expected to impact the operation of GVCs in the short and long-term.