Abstract:Since Trump came to power, the Trump administration has been pushing on with its “America First” policy and trying to get manufacturing jobs back to the United States. It has frequently taken protectionist measures such as domestic investigations, unilateral sanctions, and withdrawal from relevant international organizations. This has led to great turmoil in the global supply chain, industrial chain and value chain. At the same time, the outbreak of COVID-19 in China, Europe, the United States and many other countries and regions since the beginning of 2020 has also disrupted global supply chain. Internal, transnational and cross-regional trades have been mostly stagnant. In this situation, global and regional supply chains are bound to undergo restructuring, which will have a profound impact on the medium - and long-term global material flow and wealth transfer. China should give full play to its advantages in intellectual resources, logistics system, political and economic environment, industrial system and domestic market, consolidate and develop its existing transnational supply chain, and further expand its own advantages by comprehensive use of political and economic measures. By providing relevant public goods, China will have a stronger voice in the construction of global and regional supply chains, so as to better offset the impact of external economic uncertainties and meet more challenges.
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