Co-author: Reizle Platitas
This post draws from a paper presented in the ACAES session on "Asian Economies in Global Supply Chains" at the 2023 Allied Social Science Association Annual Meeting, program here.
Asia’s exports doubled from 16% of GDP in 1990 to 34% in 2008, driven by the global fragmentation of production processes. After 2008, however, exports-to-GDP moderated, reflecting what some have dubbed slowbalization. This reality, however, conceals much heterogeneity: the slowdown was largely driven by falling commodity prices and by China becoming more self-reliant. Given the persisting role of cross-border value chains for Asian economies, understanding their dynamics remains crucial to strengthening the resilience of these economies.