Prospects for Global Value Chains Transformation under the Influence of Digital Technologies

Technological development led to the beginning of the 4th industrial revolution, which can have a special impact on international trade processes, especially in terms of global value chains. Countries attach more and more importance to global value chains, in order to most effectively integrate into the international division of labor. Thus, the concept of GVCs increasingly appears in government programs that are aimed at improving the competitiveness of national economies. The digitalization of business models can become the basis for building a more stable global economy, which will be more resistant to the effects of crisis situations, such as a pandemic. Moreover, digitalization can seriously affect the effectiveness of the international division of labor, making the factor of cheap labor not as significant as before. Despite this, new directions for participation in value chains may open up for developing countries. According to these trends, countries, in particular, Russia, need to determine the path and main priorities that will be aimed at a qualitatively new inclusion in global value chains.