International trade and investment have long been powerful drivers of growth and development, enabling poverty reduction and convergence in living standards across countries. Recent years, however, have seen growing questioning of international trade and globalisation, and increasing demands for better management and integration of environmental and social considerations in global value chains (GVCs). This paper explores the links between RBC and GVC resilience in the context of COVID-19 and other threats such as climate change. It shines a light on the relationship between business practices, GVC disruptions, and environmental and social impacts, and identifies practical RBC based options to build resilience to a broad range of salient risks. This paper also proposes priority actions for businesses and governments to further integrate trade, investment and RBC policies and practices, and develop partnerships to foster trust in global markets, resilience and sustainability.
