Decoupling from China? Not really – Just a shift in Asian supply-chains

Since the Sino-US trade war in 2018, some large developed countries have been pushing to reshore their global production, in effect seeking to ‘decouple from China’. Chatter about such a trend has raised concerns that Asian supply chains, which underpin China’s role in global trade, could break apart. This in turn would bring into question the rationale for investing in Asia, including China.

In fact, Asia’s supply chains have so far simply shifted rather than broken down or contracted. Indeed, contrary to conventional wisdom, Asian supply links have integrated further with China in a way that differs from the general market understanding of these relationships.

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