The outbreak of the 2020 global pandemic caused by the COVID-19 virus has introduced us to a brand-new era characterised by multiple exogenous shocks that are happening one after another, or very often in parallel (such as geo-political conflicts, energy crises, natural disasters triggered by climate change and other). They significantly affected global economic and trade flows, bringing important disruptions in the global supply and value chains (GVC), and resulting in the contraction of economic activities on a large scale.
Author: Nevenka Čučković, Senior Research Fellow, IRMO.
This text has originally been published on the IRMO website.
