The Deglobalisation Myth
The Deglobalization Myth - Presentation
The Deglobalization Myth
For all the talk of near/re/on/friend-shoring, global supply chains have in fact been expanding. In a recent work commissioned by the Hinrich Foundation, Thang Nguyen-Quoc (Oxford Economics) traces the evolution of global supply chain through the lens of intermediate goods trade.
The analysis showed surprising discoveries:
- Asia’s supply chain trade is growing and diversifying, even as the US and China decouple.
- Decoupling remains largely a US-China phenomenon, and to a lesser extent, a China-Japan one. In contrast, China’s importance as an exporter of componentry has INCREASED in major trading economies, not fallen.
- Supply chain growth has gravitated to 'hotspots' Vietnam, Indonesia, Taiwan, Australia, and India. Their diversity in economic and geopolitical orientation suggest more than one winning strategy in this fast-changing global economic context.
About The Speakers
Thang Nguyen-Quoc, Ph.D. leads Oxford Economics ('OE') Asia’s Macro consulting team in Singapore. In this capacity, he supports clients with carrying out bespoke forecast and scenario modelling, as well as thought-leadership reports on trade and green transition. His core expertise is in policy analysis related to international trade and investment. His doctoral thesis evaluated the impacts of digitalization, protectionism and regionalism on the trade patterns of developing countries, using a range of econometric techniques.
Prior to joining OE in 2022, Thang spent a decade delivering flagship economic reports on Southeast Asian and African economies at the Organisation for Economic Cooperation and Development ('OECD') in Paris. He also worked in various roles at the World Bank, National Academy of Social Sciences (US), and Vietnam Commercial Bank. He got a Ph.D. in International Economics from University Paris-Dauphine, M.Sc. from Barcelona School of Economics and B.A. from Ohio Wesleyan University.
Chuin Wei Yap, Research Director at Hinrich Foundation. As the program director for international trade research, Mr. Yap leads the Foundation’s development of original research content. Offering analysis and insights across the diverse domains of global trade, Mr. Yap spearheads the Foundation’s mission through a research program of commissioned research and commentary, strategic partnerships and projects.
Mr. Yap has had a distinguished journalism career in the United States and Asia specializing in trade and economic issues. Notably, his experience spans more than a decade in mainland China and Hong Kong with the Wall Street Journal. He began his career in Singapore's defense, trade, and finance ministries, and most recently worked at the asset manager Fidelity International prior to joining the Hinrich Foundation. Mr. Yap holds degrees in history from Oxford University and international affairs from Columbia University.
