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The Future of Global Value Chains and International Trade: An EU Perspective

Author

Listed:
  • Giorgia Giovannetti

    (Università degli studi di Firenze
    European University Institute)

  • Enrico Marvasi

    (Università Roma Tre)

  • Giorgio Ricchiuti

    (Università degli studi di Firenze
    Università Cattolica del Sacro Cuore, Milano)

Abstract

The Great Recession, Brexit, the trade war between China and the USA, the pandemic crisis, and the regional wars (Russia-Ukraine and the Middle East) have opened the way to a reorganization of the global value chains and international trade. The EU in particular is facing crucial challenges regarding the internal equilibria between member countries as well as the external relations and the balance between superpowers in an uncertain geopolitical landscape. In this opening article of the Special Issue on “The Future of Global Value Chains and International Trade: An EU perspective”, we review the evolution of international trade and discuss the recent changes in the EU’s trade patterns looking at intermediate, consumption, and capital goods. We provide an overview of the contents of the Special Issue, which we organized by theme. Our analysis raises some issues and sets the stage for the following analyses and future research.

Suggested Citation

  • Giorgia Giovannetti & Enrico Marvasi & Giorgio Ricchiuti, 2023. "The Future of Global Value Chains and International Trade: An EU Perspective," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 9(3), pages 851-867, November.
    • Handle: RePEc:spr:italej:v:9:y:2023:i:3:d:10.1007_s40797-023-00252-4
    DOI: 10.1007/s40797-023-00252-4
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    References listed on IDEAS

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