Opinion: China’s Supply Chain Expo Counters the Risks of “Decoupling” – CGTN Zheng Junfeng

This week, I and some of my colleagues from CGTN have had the honor of moderating forums at the 2024 China International Supply Chain Expo. These forums have shed light on pivotal sectors, such as advanced manufacturing, digital supply chains, intelligent vehicles, renewable energy, sustainable agriculture, the health sector, and AI. The profound dialogues underscored a shared belief: efficient supply chains are crucial for growth, while disruptions only lead to higher costs, lower efficiency, and un uncertain future.

This year marks the second edition of the Supply Chain Expo in Beijing. Prior to this, China had already established a series of significant trade fairs, including the Canton Fair in Guangzhou, the China International Import Expo or CIIE in Shanghai, the Consumer Goods Expo in Haikou, and the China International Fair for Trade in Services or CIFTIS in Beijing. I have covered these events extensively. Now I am witnessing the rapid rise of the Supply Chain Expo, which made a significant impact with its debut last year as the world’s first national-level expo focused on supply chains. It highlights China’s dedication to supply chain management as the global manufacturing epicenter.

The global supply chain crisis that began in 2020 was exacerbated by pandemic-induced disruptions, certain economies adopting a zero-sum mentality, a resurgence of trade protectionism, and the implementation of policies promoting “small yard, high fence” and “decoupling.” These actions have contributed to a cost-of-living crisis and cast uncertainty over the global economic recovery.

China’s manufacturing sector has been the world’s largest for 14 consecutive years, serving as a crucial stabilizer in the global industrial and supply chain network. China’s focus on supply chains transcends its borders, as its manufacturing, technology, and market are integral to the global supply chain. As globalization deepens, efficient economic circulation relies on the unimpeded flow of people, capital, technology, goods, and services.

During a meeting with business leaders at the Supply Chain Expo, Chinese Premier Li Qiang emphasized that isolation leads to dead ends, while openness is the path forward. He pledged that China will continue to advance high-level opening-up, broaden market access, and welcome more foreign enterprises to collaborate in China’s industries, continually expanding opportunities for global supply chain cooperation. Global business leaders, including Apple’s CEO Tim Cook, have expressed confidence in China’s economic achievements, optimism about the vast potential of the Chinese market, and a willingness to increase investments in China and strengthen global supply chain partnerships.

As I walk through the exhibition area, over 600 companies from 70 countries are showcasing their technology and eagerness to collaborate. The atmosphere is one of collaboration rather than competition, with an emphasis on the integration of supply chains, cooperation among businesses of all sizes, synergy between industry and academia, and engagement between Chinese and international companies. The prevailing sentiment is one of mutual benefit and inclusive growth, aimed at enhancing the stability of the global supply chain and collectively countering the risks of “decoupling.”

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