Risk management in GVCs amidst the COVID-19 pandemic

Abstract

Amidst the COVID-19 pandemic, global value chains are under threat. Thus, the analysis of the pandemic impact on GVCs is important. Based on the analysis of the APEC main economic indicators, the COVID-19 pandemic impact on the supply chains in the region was assessed. The concept of GVC Sustainability Star is presented, which helps to concretize and counteract the GVC sustainability risks. It was concluded that amidst the pandemic crisis and its consequences, concerted efforts of APEC member economies are needed to increase GVC sustainability and develop unified energy policy standards.