Title：Research on Global Value Chains: Some Emerging Themes

Authors：Zhongxiu Zhao, Xiuxiu Zheng

Abstract：This paper seeks to define emerging themes for research on global value chains (GVCs) by investigating the challenges they face in the current global economic environment, and China’s performance in relation to these obstacles. First, we discuss the impact of uncertainties such as the COVID-19 pandemic, geopolitical conflicts, and rivalry between major powers on global value chains. Second, we explore the relationship between global value chains and national security, focusing on the resilience and reconfiguration of industrial chains, and the role of industrial subsidy policies. Third, we discuss the impact of the structural transformation of energy, decarbonization goals, as well as digital and intelligent technologies on global value chains. Fourth, we suggest that there is still potential for further classical international trade theory-oriented research on issues such as the transmission of trade barriers along global value chains and its welfare implications. Finally, we highlight the crucial role of global value chains in boosting global economic growth and development. Short-term global economic policy uncertainties may challenge its development, while high-level development goals such as mitigating climate change and enhancing environmental governance may necessitate adaptations. However, there will not be any fundamental reversals.

Keywords：Global Value Chains(GVCs), International Trade, International Division of Labor, Uncertainty, Trade Barriers