NEW YORK: China remains embedded in US supply chains even as American firms have taken steps to reduce direct imports from the Asian country, according to a paper presented at the Federal Reserve Bank of Kansas City’s annual Jackson Hole conference Saturday.
The paper’s authors, Laura Alfaro of Harvard Business School and Davin Chor of Dartmouth College’s Tuck School of Business, documented a decrease in the share of US imports from China and a corresponding increase in the share of US imports from Vietnam and Mexico between 2017 and 2022.
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