My personal view is that the COVID-19 crisis will reinforce a trend that has been observed for quite some time, but it is probably not a “game changer.” So far, we cannot speak of a shortening or even dismantling of global value chains.
After all, the rather swift revival of global value chains following the easing of restrictions over the summer months has demonstrated their stability and their potential for supporting the recovery. But apart from empirically observable trends there is another issue: The COVID-19 crisis may have changed our views on how to position our economies within global value chains.