Private Law Theory

The regulation of risk is central to the modern governance of global value chains (GVCs). These chains constitute cross-border production networks that link firms, workers and consumers around the world in the production and supply of goods and services. GVCs account for over 70% of global trade, and participation in them is key for developing countries to achieve economic growth. However, such participation may come at great cost. The offshoring of production by transnational corporations in the Global North to producers and suppliers in the Global South creates major risks for catastrophic harm to people and planet …

Paul Verbruggen, New Liabilities in Global Value Chains: An Introduction, European Journal of Risk Regulation, volume 13, issue 4, December 2022, pp 541-547. Published online by Cambridge University Press: 9 November 2022.