Global value chains in an era of strategic uncertainty: Prospects for US-ROK cooperation

The COVID-19 pandemic has brought into sharp focus the challenges of disruption to global value chains (GVCs) for the policy community. In a new era of strategic uncertainty driven by US-China decoupling, trade and supply-chain protectionism, as well as unexpected shocks like the ongoing pandemic, governments and firms alike face new pressures on value chains for industries crucial to both economic competitiveness and national security.

This new report by the Scowcroft Center for Strategy and Security’s Asia Security Initiative, Global Value Chains In an Era of Strategic Uncertainty: Prospects for US-ROK Cooperation, co-authored by Dr. Miyeon Oh, Dr. Robert Dohner, and Dr. Trey Herr, examines the key drivers of strategic uncertainty and analyzes the increasing stresses and shifting risks they create. It concludes by prescribing actionable recommendations for both the governments and private sectors of the United States and its allies and partners as they navigate this uncharted territory to secure national security at acceptable economic cost. The report illustrates these new risks via two real-world case studies: the ROK-Japan trade dispute and its impact on semiconductor value chains, and the worldwide supply-chain disruption caused by the COVID-19 pandemic.

The Scowcroft Center for Strategy and Security works to develop sustainable, nonpartisan strategies to address the most important security challenges facing the United States and the world.

Related Experts: Robert Dohner, Trey Herr, and Miyeon Oh