Abstract
Covid-19 is a global public health catastrophe with repercussions for all facets of life. This paper reviewed the impact of Covid-19 on the Agrifood System and Global Value Chains (GVCs) with respect to China and the world. Literature from Peer-reviewed articles, trending news and related authentic online reports was objectively gathered and used in this review. China has been playing a substantial role as both a supply and demand nucleus in traditional trade and simple Agrifood GVC networks. However, the review established that Covid-19 has had a substantial impact on the overall GVCs and the Agrifood system of both China and the world. While the impact on China was obvious through the decline in GDP growth rate in 2020, the decline in Agrifood annual growth and the rampant job losses in the Agrifood sector, its overall economy has been less affected relative to the global economy. This is essentially owing to the Chinese vigorous and effective counter-measures to control the outbreak and ensure food security and economic resilience. We, therefore, concluded that the world should emulate China’s Covid-19 counter-measures. Additionally, determinations to abate the disruption of Covid-19 on GVCs and encourage Agrifood trade can engender both short- and long-term paybacks. Keywords: Covid-19, GVCs, Agrifood System, Agriculture, Trade, Economy, China, World DOI: 10.7176/JESD/12-10-09 Publication date: May 31 st 2021
Highlights
The Covid-19 pandemic embodies an unparalleled turmoil to the global economy as well as international trade, as production and consumption are reduced throughout the world
This paper aims to review the impact of Covid-19 on the Agrifood System and Global Value Chains (GVCs) with reference to China and the World, draw lessons far and provide policy recommendations
The cumulative intricacy of GVCs carries inordinate challenges to policymakers, trading within GVCs in the Agrifood System is very important for countries especially in times of crises, www.iiste.org namely, the Covid-19 pandemic
Summary
The Covid-19 pandemic embodies an unparalleled turmoil to the global economy as well as international trade, as production and consumption are reduced throughout the world. Permitting the ideal distribution of resources and offering the opportunities which connect the Agrifood System with other segments of the economy. This makes markets crucial for the structural transformation of the economy. The most recent is the 2030 agenda containing 17 separate objectives called Sustainable Development Goals (SDGs), which are aimed at a better and sustainable future for all (FAO 2020). Principal to this agenda is the Agrifood sector because its main theme is to address world challenges such as eliminating hunger and poverty. The importance of well-performing markets in the whole process of motivating economic development
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