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Global value chain (GVC) and Impact of Post COVID-19 Economic State

During current crisis of COVID-19 we certainly must have felt and seen shortage of what we purchase and consume as resources in a Project or in daily walk of life. The pandemic has painfully reminded us of the vulnerability of the global economic shocks. The recent OECD Economic Outlook projects that “five years or more of income growth could be lost in many countries by the end of 2021”. The US unemployment rate jumped to 4.4 percent in March 2020, the highest since August 2017 and well above market expectations of 3.8 percent, as the Covid-19 crisis threw millions out of work (Source: https://www.macrotrends.net).

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