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Global value chains (GVCs) are facing the greatest challenges from significant geopolitical changes. Combined with the COVID-19 pandemic shock, the energy transition and the increasing uncertainties, global value chains are at risk and need to be rebuilt to strengthen resilience. This chapter examines the new geopolitical evolution due to the People’s Republic of China (PRC)-US trade tensions, the ongoing Russian war in Ukraine and other regional tensions and their impacts on the rules underpinning the multilateral trading system, discuses the dynamics and the new patterns of energy supply chains, analyses the future of renewable energy supply chains, and explores the rebuilding of green, secure, and resilient GVCs that support the achievement of carbon neutrality targets.
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Note: This report is a joint publication by the Asian Development Bank (ADB), the Institute of Developing Economies — Japan External Trade Organization (IDE-JETRO), the Research Institute for Global Value Chains at the University of International Business and Economics (UIBE) Beijing, and the World Trade Organization.
Authors
Jinjun Xue, professor, Nagoya University and Tsinghua University.
Yves Renouf, counsellor, World Trade Organization (WTO).
Youyi Deng, doctoral student, School of International Trade and Economics, UIBE.
Xunpeng Shi, Research Principal, Australia-China Relations Institute, University of Technology Sydney.
Kejuan Sun, lecturer, School of Economics, Henan University of Finance and Law.
Qian Sun, post doctor, School of Economics and Business, Tsinghua University.