Conclusion

Majzlíková explores the enduring concept of deindustrialisation and global value chains. However, recent major events such as the COVID-19 pandemic, the Russian-Ukrainian conflict and the ensuing global energy crisis have reshaped global market dynamics. These crises have led to a shift in production locations and a shortening of value chains. Since the mid-2010s, there has been a decline in offshoring, with activities returning or relocating closer to their countries of origin, suggesting a resurgence of (re)nearshoring. Majzlíková explains a gradual decline in extra-EU offshoring for European economies, highlighting the emergence of more regional GVCs. She therefore addresses future challenges related to (de)globalisation trends and the changing role of manufacturing in global value chains, in particular with regard to offshoring, reshoring and nearshoring.