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Back to normal? The future of global production networks after the crisis

The questions this essay attempts to address are: what will happen to global production networks during and after the crisis? Are the predictions of the standard model the most likely outcome of the international crisis in the light of global production networks and sunk costs of building foreign trade nodes? To examine these questions, we will start with briefly charting the importance of global production networks, or international sourcing as it is also referred to, before the crisis. We then comment on the development during the crisis, and consider what may happen once the world economy leaves the current situation behind and picks up again.

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