Derisking economies from Chinese supply chain not a quick process: CEA Nageswaran
Chief Economic Advisor V Anantha Nageswaran warns that moving away from China's supply chain will be a long and difficult process. Any attempts to diversify supply chains often result in Chinese products being rerouted. Nageswaran highlights the surge in Vietnam's exports to the US and imports from China due to trade tensions. He also remarks that it is challenging to determine if globalization is becoming more fragmented based on trade data.
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FAQ
Frequently Asked Questions (FAQs)
Is the process of de-risking from the Chinese supply chain happening globally?
Answer: While the search results do not provide extensive details about global trends, it is suggested that while the world is attempting to de-risk, it is understood to be a longer process than previously anticipated.
What are some of the challenges in de-risking from the Chinese supply chain?
Answer: Challenges may include identifying and scaling up alternative suppliers, negotiating trade deals, adjusting regulatory frameworks, ensuring quality control, managing costs, and dealing with potential retaliatory measures by China.
Was any specific event or date mentioned when CEA Nageswaran talked about the de-risking process?
Answer: The search results do not specify an event or date when CEA Nageswaran discussed the de-risking process, but some articles reference his statement being made on a Friday, without giving an exact date. It is best to refer to the sources directly for the precise timing of his statement.
What are some potential reasons for economies to de-risk from the Chinese supply chain?
Answer: Potential reasons could include concerns about over-reliance on a single country for critical supplies, geopolitical tensions, trade disputes, or the desire to diversify supply sources for greater resilience.
Why is de-risking from the Chinese supply chain not a quick process?
Answer: The process is not quick because supply chains are complex and interwoven systems that involve multiple countries, stakeholders, and logistical considerations. Changing such networks takes time, planning, and the development of alternative supply sources.
What did CEA Nageswaran say about de-risking economies from the Chinese supply chain?
Answer: Chief Economic Advisor V Anantha Nageswaran stated that de-risking economies from the Chinese supply chain is not going to be a quick process.
Who is CEA Nageswaran?
Answer: CEA Nageswaran refers to the Chief Economic Advisor for the government of India, V Anantha Nageswaran.
For up-to-date information or more details regarding CEA Nageswaran's statements on de-risking from the Chinese supply chain, it would be best to consult the articles from The Statesman and other mentioned sources directly.