Giorgia Giovannetti, Enrico Marvasi, Giorgio Ricchiuti
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The Future of Global Value Chains and International Trade: An EU Perspective
The Great Recession, Brexit, the trade war between China and the USA, the pandemic crisis, and the regional wars (Russia-Ukraine and the Middle East) have opened the way to a reorganization of the global value chains and international trade. The EU in particular is facing crucial challenges regarding the internal equilibria between member countries as well as the external relations and the balance between superpowers in an uncertain geopolitical landscape. In this opening article of the Special Issue on “The Future of Global Value Chains and International Trade: An EU perspective”, we review the evolution of international trade and discuss the recent changes in the EU’s trade patterns looking at intermediate, consumption, and capital goods. We provide an overview of the contents of the Special Issue, which we organized by theme. Our analysis raises some issues and sets the stage for the following analyses and future research.
期刊介绍:
Italian Economic Journal (ItEJ) is the official peer-reviewed journal of the Italian Economic Association. ItEJ publishes scientific articles in all areas of economics and economic policy, providing a scholarly, international forum for all methodological approaches and schools of thought. In particular, ItEJ aims at encouraging and disseminating high-quality research on the Italian and the European economy. To fulfill this aim, the journal welcomes applied, institutional and theoretical papers on relevant and timely issues concerning the European and Italian economic debate.ItEJ merges the Rivista Italiana degli Economisti (RIE), the journal founded by the Italian Economic Association in 1996, with the Giornale degli Economisti (GdE), founded in 1875 and enriched by contributions from renowned economists, including Amoroso, Black, Barone, De Viti de Marco, Edgeworth, Einaudi, Modigliani, Pantaleoni, Pareto, Slutsky, Tinbergen and Walras.