Is the COVID-19 Pandemic Recasting Global Value Chains in East Asia?

This paper assesses how the current COVID-19 pandemic is shaping global value chains in East Asia after the formidable disruptions inflicted by the health crisis. Some have expressed the view that global value chains would readjust and production processes would move home, i.e. reshoring, facilitate...

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Bibliographic Details
Published inIDEAS Working Paper Series from RePEc
Main Authors Yamashita, Nobuaki, Fukasaku, Kiichiro
Format Paper
LanguageEnglish
Published St. Louis Federal Reserve Bank of St. Louis 01.01.2021
Subjects
Coronaviruses
COVID-19
Pandemics
East Asia
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Summary:This paper assesses how the current COVID-19 pandemic is shaping global value chains in East Asia after the formidable disruptions inflicted by the health crisis. Some have expressed the view that global value chains would readjust and production processes would move home, i.e. reshoring, facilitated by the recent movement of protectionism measures in the post-pandemic world. We evaluate such concerns and examine the role of policy with a focus on non-tariff measures in East Asia.