"The invasion of Ukraine by Russia and sanctions imposed on it for doing so and new pandemic-related shutdowns in China are the latest events to rock global supply chains. Combined with the China-U.S. trade war and other pandemic- and climate-related disruptions, it is certain to accelerate the movement by Western companies to reduce their dependency on China for components and finished goods and on Russia for transportation and raw materials and to lead to more localized, or regional, sourcing strategies. If China decides to back Russia in the Ukraine conflict, it would only fuel that movement....In 2019, just before the pandemic, China accounted for 28.7% of global manufacturing output while the United States accounted for 16.8%In the last four years, however, the China-U.S. trade war and the supply chain disruptions generated by the pandemic and climate-related events have caused the pace of supply-chain localization to rise significantly. In fact, a January 2020 survey of 3,000 firms, motivated by the China-U.S. trade war, found that companies in a variety of industries — including semiconductors, autos, and medical equipment — had shifted, or planned to shift, at least part off their supply chains from current locations. Companies in about half of all global sectors in North America declared an intent to “reshore.”...The Ukraine war and closer alignment of China and Russia will modify profoundly the exchange of energy, raw materials, industrial parts, and goods between the Western world, China, and Russia and promise to accelerate the reshoring trend."
Trechos retirados de "How the War in Ukraine Is Further Disrupting Global Supply Chains"
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