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Are global value chains truly global?

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  • Hao Xiao
  • Bo Meng
  • Jiabai Ye
  • Shantong Li

Abstract

Are global value chains (GVCs) truly global or are they more of a regional phenomenon? We provide a new perspective on this issue using network analysis based on the measure of trade in value added. We first show that GVC activities can be consistently identified and grouped into three types of networks, i.e. traditional, simple, and complex trade networks, according to the number of times that factor contents cross national borders in global production sharing. Further investigation on the changes in topology and structure of various networks reveals that, GVCs are more likely organized regionally and dominated by large countries, like the US, China, and Germany. However, at the sector level, what GVCs look like largely depends on the perspective (supply or demand) and the type of networks adopted. This can help better understand the possible structural change of GVCs brought by the US–China trade war and the COVID-19 pandemic.

Suggested Citation

  • Hao Xiao & Bo Meng & Jiabai Ye & Shantong Li, 2020. "Are global value chains truly global?," Economic Systems Research, Taylor & Francis Journals, vol. 32(4), pages 540-564, October.
    • Handle: RePEc:taf:ecsysr:v:32:y:2020:i:4:p:540-564
    DOI: 10.1080/09535314.2020.1783643
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    Citations

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    Cited by:

    1. Yicheol Han & Stephan J. Goetz & Claudia Schmidt, 2021. "Visualizing Spatial Economic Supply Chains to Enhance Sustainability and Resilience," Sustainability, MDPI, vol. 13(3), pages 1-15, February.
    2. Rudi Purwono & Unggul Heriqbaldi & Miguel Angel Esquivias & M. Khoerul Mubin, 2022. "The American–China Trade War and Spillover Effects on Value-Added Exports from Indonesia," Sustainability, MDPI, vol. 14(5), pages 1-22, March.
    3. Yuning Gao & Bo Meng & Gabriele Suder & Jiabai Ye & Yongping Sun, . "Making global value chains visible: Transnational corporations versus domestically owned firms," UNCTAD Transnational Corporations Journal, United Nations Conference on Trade and Development.
    4. Zhu, Kunfu & Guo, Xuefan & Zhang, Zengkai, 2022. "Reevaluation of the carbon emissions embodied in global value chains based on an inter-country input-output model with multinational enterprises," Applied Energy, Elsevier, vol. 307(C).
    5. Yue Pu & Yunting Li & Jinjin Zhang, 2023. "Features and evolution of the ‘Belt and Road’ regional value chain: Complex network analysis," The World Economy, Wiley Blackwell, vol. 46(7), pages 2134-2156, July.
    6. Krista Danielle S. Yu & Kathleen B. Aviso & Joost R. Santos & Raymond R. Tan, 2020. "The Economic Impact of Lockdowns: A Persistent Inoperability Input-Output Approach," Economies, MDPI, vol. 8(4), pages 1-14, December.
    7. Du, Wenjing & Fang, Guanfu & Gao, Tiantian & Jiang, Wei, 2023. "Public credit institutions, export activities, and global value chain participation: Evidence from China's credit demonstration city construction program," Economic Modelling, Elsevier, vol. 126(C).
    8. Ignatia Martha Hendrati & Unggul Heriqbaldi & Miguel Angel Esquivias & Bekti Setyorani & Ari Dwi Jayanti, 2023. "Propagation of Economic Shocks from the United States, China, the European Union, and Japan to Selected Asian Economies: Does the Global Value Chain Matters?," International Journal of Energy Economics and Policy, Econjournals, vol. 13(1), pages 91-102, January.
    9. Yan, Yunfeng & Li, Xiyuan & Wang, Ran & Pan, An, 2023. "Global value chain and export-embodied carbon emissions: New evidence from foreign-invested enterprises," Economic Modelling, Elsevier, vol. 127(C).
    10. Meng, Bo & Ye, Ming, 2022. "Smile curves in global value chains: Foreign- vs. domestic-owned firms; the U.S. vs. China," Structural Change and Economic Dynamics, Elsevier, vol. 60(C), pages 15-29.

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