Global Supply Chains: The Looming “Great Reallocation”

Global supply chains have come under unprecedented stress as a result of US-China trade tensions, the Covid-19 pandemic, and geopolitical shocks. We document shifts in the pattern of US participation in global value chains over the last four decades, in terms of partner countries, products, and mode...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:NBER Working Paper Series 2023-09
Hauptverfasser: Chor, Davin, Alfaro, Laura
Format: Artikel
Sprache:eng
Schlagworte:
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
container_end_page
container_issue
container_start_page
container_title NBER Working Paper Series
container_volume
creator Chor, Davin
Alfaro, Laura
description Global supply chains have come under unprecedented stress as a result of US-China trade tensions, the Covid-19 pandemic, and geopolitical shocks. We document shifts in the pattern of US participation in global value chains over the last four decades, in terms of partner countries, products, and modes, with a focus on the last five years (2017-2022). The available data point to a looming “great reallocation” in supply chain activity: Direct US sourcing from China has decreased, with low-wage locations (principally: Vietnam) and nearshoring/friendshoring alternatives (notably: Mexico) gaining in import share. The production line positioning of the US’ imports has also become more upstream, which is indicative of some reshoring of production stages. We sound several cautionary notes over the policies that have set this reallocation in motion: It is unclear if these measures will reduce US dependence on supply chains linked to China, and there are moreover already signs that prices of imports from Vietnam and Mexico are on the rise.
doi_str_mv 10.3386/w31661
format Article
fullrecord <record><control><sourceid>proquest_nber_</sourceid><recordid>TN_cdi_proquest_journals_2863627177</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><nber_id>w31661</nber_id><sourcerecordid>2863627177</sourcerecordid><originalsourceid>FETCH-LOGICAL-c847-91e72eca23d90d9dd71dbdeafd44ea451b34d30817eb10bf6ea1786d38257b383</originalsourceid><addsrcrecordid>eNotj81KxDAURrNQcBz1AVwFXFeT3E6Szk6KVqEgaPclaW6dDpmm9geZ3TyIvtw8iQN1dTaH8_ERcsPZPYCWD9_ApeRnZMF0oiORgLogl8OwZUxozfiCrDMfrPH0Y-o6v6fpxjTtsKbFBmkewq5pP-nx8JP1aEb6jsb7UJmxCe3x8HtFzmvjB7z-55IUz09F-hLlb9lr-phHlY5VlHBUAisjwCXMJc4p7qxDU7s4RhOvuIXYAdNcoeXM1hINV1o60GKlLGhYkrs52_Xha8JhLLdh6tvTYim0BCkUV-pk3c5Wa7Evu77ZmX5fzvfhDyLWT00</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>2863627177</pqid></control><display><type>article</type><title>Global Supply Chains: The Looming “Great Reallocation”</title><source>National Bureau of Economic Research Publications</source><creator>Chor, Davin ; Alfaro, Laura</creator><creatorcontrib>Chor, Davin ; Alfaro, Laura</creatorcontrib><description>Global supply chains have come under unprecedented stress as a result of US-China trade tensions, the Covid-19 pandemic, and geopolitical shocks. We document shifts in the pattern of US participation in global value chains over the last four decades, in terms of partner countries, products, and modes, with a focus on the last five years (2017-2022). The available data point to a looming “great reallocation” in supply chain activity: Direct US sourcing from China has decreased, with low-wage locations (principally: Vietnam) and nearshoring/friendshoring alternatives (notably: Mexico) gaining in import share. The production line positioning of the US’ imports has also become more upstream, which is indicative of some reshoring of production stages. We sound several cautionary notes over the policies that have set this reallocation in motion: It is unclear if these measures will reduce US dependence on supply chains linked to China, and there are moreover already signs that prices of imports from Vietnam and Mexico are on the rise.</description><identifier>ISSN: 0898-2937</identifier><identifier>DOI: 10.3386/w31661</identifier><language>eng</language><publisher>Cambridge: National Bureau of Economic Research</publisher><subject>Economic theory ; International Finance and Macroeconomics ; International Trade and Investment ; Supply chains</subject><ispartof>NBER Working Paper Series, 2023-09</ispartof><rights>Copyright National Bureau of Economic Research, Inc. 2023</rights><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c847-91e72eca23d90d9dd71dbdeafd44ea451b34d30817eb10bf6ea1786d38257b383</citedby></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>780,784,27925</link.rule.ids></links><search><creatorcontrib>Chor, Davin</creatorcontrib><creatorcontrib>Alfaro, Laura</creatorcontrib><title>Global Supply Chains: The Looming “Great Reallocation”</title><title>NBER Working Paper Series</title><description>Global supply chains have come under unprecedented stress as a result of US-China trade tensions, the Covid-19 pandemic, and geopolitical shocks. We document shifts in the pattern of US participation in global value chains over the last four decades, in terms of partner countries, products, and modes, with a focus on the last five years (2017-2022). The available data point to a looming “great reallocation” in supply chain activity: Direct US sourcing from China has decreased, with low-wage locations (principally: Vietnam) and nearshoring/friendshoring alternatives (notably: Mexico) gaining in import share. The production line positioning of the US’ imports has also become more upstream, which is indicative of some reshoring of production stages. We sound several cautionary notes over the policies that have set this reallocation in motion: It is unclear if these measures will reduce US dependence on supply chains linked to China, and there are moreover already signs that prices of imports from Vietnam and Mexico are on the rise.</description><subject>Economic theory</subject><subject>International Finance and Macroeconomics</subject><subject>International Trade and Investment</subject><subject>Supply chains</subject><issn>0898-2937</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2023</creationdate><recordtype>article</recordtype><sourceid>NBR</sourceid><recordid>eNotj81KxDAURrNQcBz1AVwFXFeT3E6Szk6KVqEgaPclaW6dDpmm9geZ3TyIvtw8iQN1dTaH8_ERcsPZPYCWD9_ApeRnZMF0oiORgLogl8OwZUxozfiCrDMfrPH0Y-o6v6fpxjTtsKbFBmkewq5pP-nx8JP1aEb6jsb7UJmxCe3x8HtFzmvjB7z-55IUz09F-hLlb9lr-phHlY5VlHBUAisjwCXMJc4p7qxDU7s4RhOvuIXYAdNcoeXM1hINV1o60GKlLGhYkrs52_Xha8JhLLdh6tvTYim0BCkUV-pk3c5Wa7Evu77ZmX5fzvfhDyLWT00</recordid><startdate>20230901</startdate><enddate>20230901</enddate><creator>Chor, Davin</creator><creator>Alfaro, Laura</creator><general>National Bureau of Economic Research</general><general>National Bureau of Economic Research, Inc</general><scope>CZO</scope><scope>MPB</scope><scope>NBR</scope><scope>XD6</scope></search><sort><creationdate>20230901</creationdate><title>Global Supply Chains: The Looming “Great Reallocation”</title><author>Chor, Davin ; Alfaro, Laura</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c847-91e72eca23d90d9dd71dbdeafd44ea451b34d30817eb10bf6ea1786d38257b383</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2023</creationdate><topic>Economic theory</topic><topic>International Finance and Macroeconomics</topic><topic>International Trade and Investment</topic><topic>Supply chains</topic><toplevel>online_resources</toplevel><creatorcontrib>Chor, Davin</creatorcontrib><creatorcontrib>Alfaro, Laura</creatorcontrib><collection>NBER Working Papers</collection><collection>NBER</collection><collection>National Bureau of Economic Research Publications</collection><collection>NBER Technical Working Papers Archive</collection></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Chor, Davin</au><au>Alfaro, Laura</au><format>book</format><genre>document</genre><ristype>GEN</ristype><atitle>Global Supply Chains: The Looming “Great Reallocation”</atitle><jtitle>NBER Working Paper Series</jtitle><date>2023-09-01</date><risdate>2023</risdate><issn>0898-2937</issn><abstract>Global supply chains have come under unprecedented stress as a result of US-China trade tensions, the Covid-19 pandemic, and geopolitical shocks. We document shifts in the pattern of US participation in global value chains over the last four decades, in terms of partner countries, products, and modes, with a focus on the last five years (2017-2022). The available data point to a looming “great reallocation” in supply chain activity: Direct US sourcing from China has decreased, with low-wage locations (principally: Vietnam) and nearshoring/friendshoring alternatives (notably: Mexico) gaining in import share. The production line positioning of the US’ imports has also become more upstream, which is indicative of some reshoring of production stages. We sound several cautionary notes over the policies that have set this reallocation in motion: It is unclear if these measures will reduce US dependence on supply chains linked to China, and there are moreover already signs that prices of imports from Vietnam and Mexico are on the rise.</abstract><cop>Cambridge</cop><pub>National Bureau of Economic Research</pub><doi>10.3386/w31661</doi></addata></record>
fulltext fulltext
identifier ISSN: 0898-2937
ispartof NBER Working Paper Series, 2023-09
issn 0898-2937
language eng
recordid cdi_proquest_journals_2863627177
source National Bureau of Economic Research Publications
subjects Economic theory
International Finance and Macroeconomics
International Trade and Investment
Supply chains
title Global Supply Chains: The Looming “Great Reallocation”
url https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2024-12-23T12%3A31%3A28IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_nber_&rft_val_fmt=info:ofi/fmt:kev:mtx:book&rft.genre=document&rft.atitle=Global%20Supply%20Chains:%20The%20Looming%20%E2%80%9CGreat%20Reallocation%E2%80%9D&rft.jtitle=NBER%20Working%20Paper%20Series&rft.au=Chor,%20Davin&rft.date=2023-09-01&rft.issn=0898-2937&rft_id=info:doi/10.3386/w31661&rft_dat=%3Cproquest_nber_%3E2863627177%3C/proquest_nber_%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=2863627177&rft_id=info:pmid/&rft_nber_id=w31661&rfr_iscdi=true