Why We’re Seeing Shifting Patterns in Global Manufacturing
Teaser: Amid other crises, China’s economy has reeled from Western decoupling efforts. While several countries stand to gain from this process, it has only partially reduced China’s extensive global influence.
By John P. Ruehl
The 10th anniversary of the Belt and Road Initiative (BRI) in Beijing on October 18, 2023, witnessed the usual smiles and handshakes. But China’s economic landscape, dependent on robust supply chain networks, is facing turbulent times. The U.S.-led trade war had already disrupted Chinese industry and supply chains before the COVID-19 pandemic further backlogged ports and exacerbated disruptions. The Biden administration has meanwhile continued to expand policies restricting China’s access to the U.S. market and technologies, including new restrictions on advanc...