GLOBAL VALUE CHAINS AS THE MAIN CHARACTERISTICS OF THE MODERN WORLD ECONOMIC POLICY

Abstract

It is GVCs that connect the stages of the production (reproduction) cycle geographically scattered around the world into a single industry, and their analysis helps to understand the essence of shifts in world trade (dominance of trade in components) and international production, to understand the interdependence of national economies. Although an insignificant part of experts and politicians still assumes that goods and services are produced domestically and compete with foreign goods, in fact, an ever-increasing share of goods and services is already global in nature, and states compete with each other for the most beneficial role for them in the emerging value chains. Concept shows the role of production networks, global buyers and suppliers. Value chain analysis provides an opportunity to identify companies and economic entities that control and coordinate economic activity in production networks.