The Geoeconomics of Global Value Chains: Navigating Geopolitical Complexity and Industrial Policy Shifts (Routledge Focus on Economics and Finance)

The post-Cold War era was widely associated with the Washington Consensus, which promoted economic efficiency, specialization, and trade liberalization as pathways to growth and social welfare.Globalization facilitated the rise of geographically dispersed production networks, known as global value chains (GVCs).For decades, firms benefited from offshoring by exploiting labour cost differentials, accessing cheaper resources, and entering new markets.However, since 2010, political and societal shifts have driven a collective reconfiguration of GVCs.Today, manufacturing systems are being reshaped by three major forces: digital transformation, climate change, and geopolitical tensions. This volume focuses on the latter - geopolitical disruptions - and examines their impact on corporate strategies related to trade and foreign direct investment.Firms increasingly respond by relocating operations, either through reshoring to the home country or through nearshoring to adjacent regions.The stud