SINGAPORE (Bloomberg): Trade shocks fuelLed by unilateral tariffs between the US and China have undone three to five years worth of growth among global value chains in affected countries, according to a UN policy brief.
The report from the United Nations Development Programme looking at the post-pandemic future of global value chains found that trade within those supply lines shrank in absolute terms along with other types of trade. Still, they’ll remain at the core of economic recovery in the Asia-Pacific region even as global manufacturers consider moving production closer to home.
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