The Crisis of Global Economic Governance and the Reconfiguration of the Global Value Chain

다국어 초록 (Multilingual Abstract)

This article delves into the evolving dynamics of the US-China strategic competition, exploring its profound implications on global economic governance and the restructuring of value chains. Analyzing the historical context from the ‘Washington Consensus’ era to the contemporary protectionist policies, the study highlights the intricate interplay between the two nations, shaping a crisis in global economic order. The focus extends to the strategic responses required by Korea, caught between these superpowers. Emphasizing the need for an objective perspective, the article calls for a comprehensive understanding of the US-China conflict’s prolonged nature, the reshaping of global value chains, and the imperative for Korea to navigate these shifts judiciously.