The Global Supply Chains have evolved from simply logistical achievements to being the bedrock of the global economy. Driven by technological advances and geopolitical shifts, this transformation underscores the critical role of GSCs in shaping economic landscapes and influencing global trade dynamics.
Western economies are increasingly intertwined with sectors of the Chinese economy, fueled by heavy Chinese investment in labor and R&D infrastructure. The growing gravitational pull of China’s economic orbit has diminished the influence of Western economies in fostering good governance and institutional norms. China’s expanding control over trading routes has also empowered it to act in ways that undermine the principles of open seas.
This book addresses the entangled issues of strategic dependency and economic vulnerability requiring a multifaceted policy response:
The strategic recalibration involves reducing dependency on specific geopolitical actors and enhancing the resilience and flexibility of supply chains to bear future shocks. This includes:
Global supply chains must serve both as conduits of trade and pillars of a stable, secure global order. It’s as much about revitalizing domestic economic dynamism and building new alliances as it is reducing Chinese and Russian influence in the transatlantic supply chains.
Niklas Swanström is the Director of the Institute for Security and Development Policy, and one of its cofounders.
Fredrik Erixon is the Director of the European Centre for International Political Economy (ECIPE) ever since its start in 2006.
Mrittika Guha Sarkar is at the American University, Washington DC.
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