Role of Covid-19 in the Slowdown of the Expansion of GVCS (Coursework Sample)

Role of Covid-19 in the Slowdown of the Expansion of GVCS
A supply and demand shock has been caused by the COVID-19 epidemic in several nations. Lockdowns and other social segregation measures have had a direct impact on patterns of production, consumption, and trade (Altuzarra, 2021). The quantity of exportable items has decreased due to factory closures in China, Europe, the United States, and other countries, disrupting global value chains (GVCs) (Altuzarra, 2021). Consumers and businesses have both reduced their expenditure at the same time. During the first half of 2020, there was an about 13% fall in global trade. Changes in work and retail mobility were connected with changes in exports and imports, respectively, in the first three months of the pandemic (February–April 2020), when lockdown regulations were put in place in the majority of nations (Antràs, 2020).
As a primary producer of high-value products and components China is considered to be at the heart of the GVCs  (Antràs, 2020). It is also a major consumer marketplace and also functions as a customer of global commodities and industrial products (Antràs, 2020). Therefore, the role of Covid-19 in the slowdown of GVCs can be best investigate and ascertained from the case study of China and also other main producers of goods (Gaulier, 2020). Additionally, China is in charge of processing and assembly processes and produces a large number of intermediate inputs. One well-known instance