Research Report, Issue No. 55, 2021. Maintaining Resilient and Stable Industrial Chain and Supply Chain Connecting China, Japan and South Korea under the Latest Global Circumstances
In recent years, the global political and economic environment are experiencing drastic changes, with the trend of globalization in reverse, posing severe challenges to the traditional trade system, and showing regionalized, nearshoring, and localized trends in industrial and supply chains. The tremendous crack brought by the COVID-19 pandemic on global production network accelerates the reshaping of global industrial chain. After Joe Biden and his administration came into power, the U.S. government did not pause its containment on China’s development, but put more emphasis on allying with its allies to exclude China from global industrial chain, in which case Japan and South Korea become targets that the U.S. are trying to connect with. Under such complicated circumstances, it is critical for China to maintain resilient and stable industrial and supply chains connecting China, Japan and South Korea.