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.