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The “Great Reallocation” of Global Supply Chains is Happening, But China is Still a Major Player

August 28, 2023


Economists, financial leaders, and central bank officials from around the globe flew into Jackson Hole, Wyoming over the weekend for the annual Jackson Hole Symposium, which examined some of the big shifts happening in the global economy.

One of the major papers presented at the conference examined global supply chains in the wake of the COVID-19 pandemic and increased tension between the United States and China. Authors Laura Alfaro of Harvard Business School and Davin Chor of the Tuck School of Business at Dartmouth argue in Global Supply Chains: The Looming “Great Reallocation” that while the United States is decreasing its direct sourcing of goods from China in favor of nations including Vietnam and Mexico — and increasing its own domestic production capabilities — it remains “unclear if these measures will reduce US dependence on supply chains linked to China.”

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