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G20 India 2023
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TF-1: Macroeconomics, Trade, and Livelihoods: Policy Coherence and International Coordination

Risk and Resilience of GVCS and the Role of the G20

Saon Ray (Indian Council for Research on International Economic Relations), Smita Miglani (Institute of Economic Growth)
This Policy Brief was first published in https://t20ind.org

Abstract

The COVID-19 pandemic revealed the fragility of global value chains (GVCs), and there are many imminent risks to the global economy due to geopolitical tensions. Resilience is important in mitigating the effects of disruptions to supply chains, and trade finance and supply chain finance can be important instruments in overcoming the risks to the global economy. The G20 can play a significant role in coordinating support for trade finance and green trade financing. Though nascent, green trade finance can help overcome sustainability challenges. Other measures to improve resilience through international coordination and collaboration by the G20 countries could be necessary to mitigate some of these risks and achieve greater and seamless GVC integration.

G20 India 2023
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Authors

Saon Ray (Indian Council for Research on International Economic Relations), Smita Miglani (Institute of Economic Growth)

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