Globalized Supply Chains and U.S. Policy
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But physically moving or rerouting supply chains is not an easy solution. Additionally, the interconnected nature of supply chains means that no product move can be made in isolation and the impact on all other parts of the network have to be considered. For those who do not have the luxury of an existing footprint in alternate countries, the process becomes more complicated and more expensive. Setting up a location, staffing , training and finding new local partners is a major project for every supply chain manager. The decision to move parts of your supply chain out of China should not be taken lightly.
Given the costs of reconfiguring supply networks, the time to execute moves and the attendant risks, companies should only take this step when they expect the new configuration to be viable over several years. Careful evaluation might even suggest that staying in China is the better option. Learn more: How to innovate and scale the supply chain. Supplier relationship management is an effective tool that leading companies use to identify, engage and develop their most valuable suppliers.
Supply chain leaders in sourcing and procurement will find in this research the key steps and prerequisites needed to implement a successful SRM program. Get actionable advice in 60 minutes from the world's most respected experts. Keep pace with the latest issues that impact business. February 11, Contributor: Christy Pettey. China and the U. For most of the past 50 years, the relationship between the United States and China has been based on complementary economic ties.
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They made cheap clothes and toys and other widgets for American gadgets, and American malls and households were loaded with low-cost Made in China goods. For a consumer society like this one, cheap consumer goods keep an economy going.
- Why U.S.-China Supply Chains Are Stronger Than the Trade War;
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The economic benefit of increased integration between the two economies never kicked the U. This is not global free trade. Imagine Bernie Sanders coming in ranting against Trump for going hard on the Chinese.
Global value chains and trade - OECD
Imagine anyone in the Democratic Party coming out in favor of free trade, in a world where most American blue-collar workers know that free trade only exists in the pages of the WSJ , FT and The Economist. Wall Street also finds it hard to believe Trump will be satisfied with a negotiated settlement that just leads to a promise by China to buy more U. Trump or no Trump, Washington is likely to seek more fundamental changes in the way China interacts with the world through its industrial policy.
Looked at in a zero-sum way: If a new leader goes back to the status quo, China and the big multinationals win and Main Street loses.
The Manufacturer’s Dilemma
Supporters gather for the arrival of President Donald Trump before he speaks at a rally endorsing the Republican ticket on October 12, , in Lebanon, Ohio. The disruptors have taken over with pitchforks and rallying cries to remove an establishment that the vast majority of the electorate believe no longer serve their interests.
One can argue that the jig has been up for them at least since Ross Perot became a third-party candidate in the early s, ultimately putting Bill Clinton in the White House. Every time some out-of-the-Beltway character comes to the Swamp, the Swamp gets under his skin and the outcome is what it is. Only in the last couple of years has the electorate finally won.
Globalized Supply Chains and U.S. Policy
Many of them have been vilified since. But a politician who ignores the modern day les miserables does so at their own risk. Anti-globalization is not new. The first visible fruits of this wave began in the late s in Seattle. The so-called Battle in Seattle saw young, left-wing activists protesting the World Trade Organization.
Globalization has now reached another turning point. The popular narrative has changed from being associated with opportunity and progress towards being viewed as a threat.
Anti-globalization sentiment made a significant contribution to the ballot-box surprises in Brexit and Trump , which have shaken the political status quo. It could spread further next year in European elections.
Brexit may not survive. Voters of the referendum have been called xenophobes and other names. International residents, mainly in London, are caught in a bind: What will happen to their work status?
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Some deglobalization trends are under active consideration by Trump and are also being discussed by parties critical of globalization elsewhere, namely in Europe. A Nike store in Miami Beach, Florida, American apparel manufacturers have relied for years on cheap and abundant labor in Asia, namely China. Christian Keller, an economist for Barclays in London, listed three risks associated with anti-globalization outcomes in a report published last March. Here we go From the perspective of global income distribution, Keller likens it to the elephant in the living room.
In the pre-trade-war period of hyper-globalization, the tail of the elephant represents the people from the lowest percentile in global income distribution.
They made very limited gains in real income, which were mainly seen in countries that are not part of the global value chain. Think most of Africa and Central Asia, for instance. Moving up from the tail end to the big bulky body of that elephant, that portion of the elephant experienced strong real income gains between and This group is made up of the large emerging markets populations that became part of the global value chain like China, India and commodity superpower Brazil. The biggest beneficiary there was China, thanks to a protective government.
While still being part of the higher percentile of global income distribution just because of where they were born, the typical blue-collar American saw almost no real income gains over the same year period, according to Keller.