Session 1: Resilience in a new international context: what place for LAC in global value chains? (EN)
Jun 23, 2022 | 1:00 PM - 2:15 PM
Jun 23, 2022 | 1:00 PM - 2:15 PM
Description
Beyond the huge human and health impact of COVID-19, the pandemic has struck at the core of global value chains hub regions, including China and Southeast Asia, Europe and the US, with major economic consequences. The war in Ukraine has further disrupted global value chains in key sectors and is reconfiguring trade patterns. It is still early to evaluate the full impact of these two major events in the long run, but it is certain that better integrated and more diversified economies will have greater capacity to adapt and integrate into regional and global value chains. International trade has been a powerful engine of growth and improvement in living standards across countries. Nonetheless, the Latin American and Caribbean region has so far not fully reaped the benefits that integrating into the world economy can offer.
