Why Should We Care if Supply Chains with China are Breaking?

Union College Professor Mark Dallas--also a senior advisor to the U.S. Department of Commerce--joins Jim and Ray to delve into how the recently accelerating movement of global supply chains away from China is affecting consumers, employment and national security, both in the U.S. and around the world. Professor Dallas explains the importance and complexity of global supply chains, and explores how COVID-19 brought their vulnerabilities into the public awareness. He unpacks how 'friend-shoring' has emerged as a western strategy to reduce supply-chain reliance on potential adversaries by sourcing goods and labor through more friendly countries.One reason China's manufacturing capabilities became so dominant in global supply chains was its ability to geographically cluster manufacturing sites closely together for maximum efficiency.Professor Dallas explains that while authoritarian policies, geopolitical shocks and cybersecurity threats pose serious challenges to global supply chain integrity, decoupling supply chains away from China is far more complicated than it sounds.