Reimaging Post COVID-19 Global Value Chain: Case Study of Automotive and Electronic Companies in China
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The outbreak of the COVID-19 pandemic at the end of 2019 caused various problems for the international community, especially China as the outbreak's epicenter. With the enactment of a lockdown policy in China, various activities involving human interactions, especially economic activities, are limited and can potentially disrupt the global value chain as China is the world's factory. In this paper, we examine the impact of the pandemic on the Global Value Chain (GVC) in China. The authors argue that the pandemic has forced the companies that integrated with GVC to rethink their strategy on keeping the production process running well. This paper analyzes the impact of pandemics on the GVC in China by comparing the historical trajectories, actor's strategies, and regulations before and after the pandemic. We compare these indicators before and after the pandemic to determine how they affect the GVC system and how companies adapt to the disruption by rethinking and readjusting their strategies. Thus, the analysis can conclude whether the fragmented GVC system is still relevant or needs an entirely new system with more resistance to phenomena like the COVID-19 pandemic.
Keywords: The COVID-19 pandemic, Lockdown, Fragmented Global Value Chain, Companies Operated in China
Merebaknya pandemi COVID-19 di penghujung tahun 2019 menimbulkan berbagai permasalahan bagi dunia internasional khususnya Tiongkok sebagai episentrum penyebaran virus. Dengan diberlakukannya kebijakan lockdown di Tiongkok, berbagai aktivitas yang melibatkan interaksi manusia, khususnya aktivitas ekonomi, menjadi terbatas dan berpotensi mengganggu rantai nilai global karena Tiongkok adalah pabrik dunia. Dalam tulisan ini kami membahas dampak pandemi pada Global Value Chain (GVC) di Tiongkok. Penulis berpendapat bahwa pandemi telah memaksa perusahaan yang terintegrasi dengan GVC untuk memikirkan kembali strategi mereka dalam menjaga agar proses produksi tetap berjalan dengan baik. Tulisan ini menganalisis dampak pandemi terhadap GVC di Tiongkok dengan membandingkan lintasan historis, strategi aktor dan regulasi sebelum dan sesudah pandemi. Dengan membandingkan indikator-indikator tersebut di masa sebelum dan setelah pandemi, akan membantu untuk mengetahui bagaimana pandemi memengaruhi sistem GVC dan bagaimana perusahaan beradaptasi terhadap gangguan dengan memikirkan dan menyesuaikan kembali strategi mereka. Dengan demikian, analisis tersebut dapat digunakan untuk menyimpulkan apakah sistem GVC yang terfragmentasi masih relevan atau ternyata diperlukan sistem yang benar-benar baru yang lebih tahan terhadap fenomena pandemi COVID-19 tersebut.
Kata-kata Kunci: Pandemi COVID-19, Lockdown, Global Value Chain Terfragmentasi, Perusahaan yang beroperasi di Tiongkok
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