Global value chains and their impact on international trade

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Abstract

This article will examine the nature and role of global value chains in the modern global economy. Based on the analysis, was determined the role of GVCs as the main form of modern trade and international cooperation, they also provide countries and MNCs with an opportunity to benefit from participation in trade through the execution of individual tasks, which leads to an increase in their competitiveness at micro and macro levels. In addition to mentioned above, the problem of the classical accounting of international trade flows has been identified, on the background of which the role of GVCs as a more efficient way of collecting statistics and distributing real imbalances in world trade in terms of value added has been determined.

About the authors

Ekaterina Mikhailovna Zharkova

Peoples' Friendship University of Russia (PFUR)

Author for correspondence.
Email: ekat.zharkowa@yandex.ru

Postgraduate student of the Department of International Economic Relations

117198, Moscow, Miklukho-Maklaya st., bld.6

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