UDC 339.5

Bondarenko N.E.¹ (Moscow, Russian Federation) – bondarenko.NE@rea.ru

¹Plekhanov Russian University of Economics

Abstract. The article analyzes the most significant macroeconomic shocks in the context of their impact on the efficiency of global value chains. The high level of interdependence of participants in these networks makes them vulnerable to such challenges as economic crises, geopolitical instability and sanctions, epidemics, global climate change and technological transformations. Macroeconomic shocks not only disrupt the stable functioning of supply chains, but also stimulate economic agents to reconsider traditional approaches to managing production, supplies and finished goods inventories. The paper classifies the main types of macroeconomic shocks and their consequences that affect the main links of supply chains and reduce their sustainability. Economic crises destabilize financial flows, limit access to resources and provoke a decrease in production activity. Geopolitical conflicts and sanctions increase market fragmentation and require the redistribution of supplies and logistics routes. Climate change has devastating consequences, significantly increasing the scale of international costs and increasing the scale of environmental pollution, limiting access to resources. Technological transformations, including digitalization and innovation, open up new prospects for improving the efficiency of networks, but are also accompanied by cyber threats and contribute to the growth of the technological gap between countries. Based on the analysis, key vulnerabilities of global value creation networks are identified: the concentration of high emissions in certain regions, secondary interdependence, insufficient regionalization of production and limited digitalization of processes. The central attention is paid to adaptation strategies, including diversification, localization of production, creation of new and strengthening of existing regional ties. Particular emphasis is placed on control of state regulation aimed at stimulating the localization of important industries, employment development and the introduction of risk management tools. A conclusion is made about the need for a long-term systems approach, pooling resources and increasing efforts to minimize the effects of external shocks, increasing the adaptability of networks and ensuring their competitive stability in the context of global instability.

Keywords: value networks, global shocks, adaptation strategies, economic and political crises, technological and environmental transformations.

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For citation: Bondarenko N.E., Global value networks in an era of global challenges: paths to transformation and sustainable management. CITISE, 2025, no. 1, pp. 355-366.