ФРАГМЕНТАЦІЯ ГЛОБАЛЬНИХ ЛАНЦЮГІВ СТВОРЕННЯ ВАРТОСТІ ПІД ВПЛИВОМ ПОТОЧНИХ РИЗИКІВ

Abstract

The article is devoted to the study of the characteristics of trade integration through global value chains. Factory closings and rising income inequality have contributed to the erosion of social support for globalization in advanced economies over the past decade. Considerations of national security and strategic autonomy have gained prominence, risking forming a more fragmented economic and political order. The development of global value chains was characterized by the following factors: an increase in the value of the final product due to the reduction of tariffs, the reliability of the transportation of goods across borders, and the effective coordination of geographically dispersed production enterprises thanks to the development of information and communication technologies, the wide access of companies not only to a large and cheap labor force but also to an expanded circle of potential customers. Offshoring not only lowered the marginal cost of production but also encouraged an increase in output to more effectively amortize the fixed costs associated with moving production overseas. The author noted that the integration and emergence of global value chains brought many benefits to consumers and producers. The development of the multilateral trading system sharply reduced the consumer price of intermediate goods and increased the range and quantity of goods produced. But there is also the reverse side of these processes, namely: dependence of countries on imports, including products that are the basis of the green and digital transition, increasing dependence on external demand; highly concentrated production of some types of products in specialized companies and countries; increasing the length of value chains, their complexity and, accordingly, potential vulnerability and susceptibility to shocks. The current economic and geopolitical environment creates challenges and risks for the development of global value chains. Among the main strategies for reducing risks, the strategy of diversification of resource sources was noted; (near-shoring), and (re-shoring). The advisability of applying a strategy to reduce the impact of risks on the activities of HLSW and ensure national security depends on many factors, so combinations are likely. Keywords: trade integration, global value chains (GVC), risks, economic security.