Geopolitical and geoeconomic changes are destabilising the global trading system. China’s assertiveness, its rivalry with the US, WTO reform and EU strategic autonomy are all current political debates with major economic implications. Local economies depend on global value chains and the Metropolitan Area of Barcelona is no exception. Economic growth and internationalisation depend on the stability of the global trading system, and the coronavirus pandemic has accelerated the impact of these long-term changes. This monograph identifies the opportunities and challenges facing the world economy and how they can impact the economy of Barcelona and its metropolitan area. It consists of two parts, the first analyses the impact of global and European value chains from a local perspective, while the second looks at the main sources of instability for international trade resulting from geopolitical changes and the consequences of Covid-19.
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