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2. Global Supply Chains: Compete, Don’t Retreat
- Author:
- Committee for Economic Development of the Conference Board
- Publication Date:
- 07-2021
- Content Type:
- Policy Brief
- Institution:
- The Conference Board
- Abstract:
- For decades, global supply chains have become increasingly integral to the US economy and have been embraced by business and successive US Administrations because they increase efficiency and US competitiveness. But over the past several years, criticism has grown beyond the argument that US jobs are being exported to include concern about a more hostile and competitive global landscape.1 Then the COVID-19 pandemic struck, and lockdowns were imposed. Production in general was disrupted, shutting down suppliers and interrupting transportation channels; foreign governments closed their borders or hoarded crucial supplies for their own peoples.2 Prominently, lifesaving supplies—including personal protective equipment (PPE) and pharmaceutical production commodities, often sourced from abroad—were in short supply, putting frontline health care workers at even greater risk and complicating vaccine distribution.3 And then, as the pandemic began to ease and demand for goods increased, the enormous container ship Ever Given was grounded in the Suez Canal for six days, bringing much of goods transport around the world to a grinding halt and raising fears of even greater supply chain bottlenecks and commercial chaos.4 This truly unprecedented turn of events has exposed challenges to US reliance on global supply chains. Critics of the “offshoring” of jobs have assigned much of the economic and even the human pain of the pandemic to unwise and excessive dependence on global supply chains that include countries with “command” economies rather than free-market ones, or hostile nations that are unreliable sources of essential goods. The pandemic has also raised national security concerns about the reliability and resiliency of global supply chains, and businesses have been forced into workarounds of their own practices. Given the size of China’s economy, its extensive role in global supply chains, its growing military strength, and the growing tensions in its bilateral US relationship, China is at the nexus of these major concerns about supply chain resilience. The new administration has responded to this turmoil with a series of policy directives,5 studies on the subject,6 and legislative proposals under active consideration in Congress covering both short-term and medium-term responses, including a twenty-first century industrial strategy—which would be a major change of US policy direction. Global trade in materials, tools, components, and services deserves an immediate assessment of both security and economic needs for the long term.7 Security with prosperity must be the goal, and the nation must fully comprehend the bigger picture to achieve that outcome. This brief will put the role of global supply chains in the US and the world economy in perspective. It will offer recommendations to manage the economic and security challenges of global supply chains in the postpandemic economy to ensure that the US remains an innovative and competitive global leader.
- Topic:
- Economy, Trade, Strategic Competition, COVID-19, Commerce, and Supply Chains
- Political Geography:
- North America, Global Focus, and United States of America
3. Boosting Immigration: Harnessing Global Talent to Increase US Competitiveness, Innovation, and Prosperity
- Author:
- The Conference Board
- Publication Date:
- 01-2020
- Content Type:
- Special Report
- Institution:
- The Conference Board
- Abstract:
- As immigration reform remains in gridlock, a new report from a nonpartisan think tank whose membership is comprised of top-level business executives calls on policymakers to enact various changes to bolster America’s workforce and economic might. Published by the Committee for Economic Development of The Conference Board (CED), recommendations from the public policy think tank include streamlining the visa process to strengthen the country’s attractiveness to the most in-demand foreign workers, and increasing economically motivated offers of permanent residence.
- Topic:
- Immigration, Reform, Public Policy, and Economic Development
- Political Geography:
- Global Focus and United States of America
4. Global Growth Projections for The Conference Board Global Economic Outlook 2019
- Author:
- Abdul Erumban and Klaas de Vries
- Publication Date:
- 12-2018
- Content Type:
- Special Report
- Institution:
- The Conference Board
- Abstract:
- This paper presents the methodology for The Conference Board Global Economic Outlook 2019, which includes growth projections for 11 major regions and individual estimates for 33 mature and 36 emerging market economies for 2019-2023 and 2024-2028. The projections are based on a supply-side growth accounting model that estimates the contributions of the use of factor inputs—labor and capital—and total factor productivity growth to the growth of real gross domestic product (GDP). While labor input growth rates are estimated using data on demographic changes and participation rates—including an estimation to adjust for the change in the composition (or quality) of the workforce—capital input and total factor productivity growth are econometrically estimated using a wide range of related variables during past periods. The obtained trend growth rates for the period 2019-2023 are adjusted for possible deviations between actual and potential output in the short run.
- Topic:
- Labor Issues, Economy, and Capital Flows
- Political Geography:
- Global Focus
5. Trade under Attack And Necessary Remedies for Dislocation from Economic Change
- Author:
- Research and Policy Committee of the Committee for Economic Development
- Publication Date:
- 08-2017
- Content Type:
- Policy Brief
- Institution:
- The Conference Board
- Abstract:
- Research shows that engaging in global trade increases economic prosperity. Policymakers should aid U.S. workers adversely impacted by global trade instead of working to protect U.S. jobs. Trade Under Attack details trade’s immense contribution to the U.S. economy and warns that America risks forfeiting its leadership position if it retreats from trade.
- Topic:
- Leadership, Trade, and Economic Development
- Political Geography:
- Global Focus and United States of America
6. Reducing Risks from Global Imbalances
- Author:
- Research and Policy Committee of the Committee for Economic Development
- Publication Date:
- 09-2007
- Content Type:
- Policy Brief
- Institution:
- The Conference Board
- Abstract:
- This report traces the evolution of the current large global trade and financial imbalances, examines their sources, and makes recommendations that, if adopted, will help ensure continued growth in the global economy.
- Topic:
- International Trade and Finance, Economy, Global Political Economy, and Risk
- Political Geography:
- Global Focus
7. Public-Private Partnerships for Development: A Handbook for Business
- Author:
- Suezan C. Lee
- Publication Date:
- 07-2006
- Content Type:
- Policy Brief
- Institution:
- The Conference Board
- Abstract:
- CED partnered with the U.S. Agency for International Development (USAID) on this handbook, published in 2006, which is designed to help businesses operating in developing countries understand how to build public-private partnerships that will benefit their host country populations and the participating firms.
- Topic:
- International Trade and Finance, Partnerships, Business, Public Sector, Economic Development, and Private Sector
- Political Geography:
- Global Focus and United States of America
8. Reducing Global Poverty: Encouraging Private Investment in Infrastructure
- Author:
- Research and Policy Committee of the Committee for Economic Development
- Publication Date:
- 07-2006
- Content Type:
- Policy Brief
- Institution:
- The Conference Board
- Abstract:
- This paper builds on some of the findings and recommendations of the 2002 CED policy statement, A Shared Future: Reducing Global Poverty, which broadly examined the phenomenon known as globalization and offered a blueprint for how best to harness economic integration and political cooperation between developed and developing countries towards enhancing economic growth and combating global poverty. Encouraging Private Investment in Infrastructure evaluates various options for public-private partnerships and provides brief analyses of several successful projects in order to identify best practices.
- Topic:
- Globalization, Poverty, Infrastructure, and Investment
- Political Geography:
- Global Focus
9. Making Trade Work: Straight Talk on Jobs, Trade, and Adjustment
- Author:
- Research and Policy Committee of the Committee for Economic Development
- Publication Date:
- 06-2005
- Content Type:
- Policy Brief
- Institution:
- The Conference Board
- Abstract:
- This report examines the benefits and challenges of developing an effective adjustment policy for workers who lose their jobs because of outsourcing or any other adverse effects of trade. The statement, approved by CED's Research and Policy Committee states, "The most important next step is to recognize that adjustment policy is vital to achieving free trade - which, in turn, is vital to the nation's economic future." The statement concludes that America needs to develop the national will to devise and fund an adjustment policy that will get to "yes" on trade.
- Topic:
- International Trade and Finance, Labor Issues, and Unemployment
- Political Geography:
- Global Focus
10. Promoting U.S. Economic Growth and Security Through Expanding World Trade: A Call for Bold American Leadership
- Author:
- Research and Policy Committee of the Committee for Economic Development
- Publication Date:
- 06-2003
- Content Type:
- Special Report
- Institution:
- The Conference Board
- Abstract:
- This report presents a leadership vision of a strong and open global trading system, and urges the United States and its trading partners to adopt vital policy reforms, including delinking agricultural subsidies from prices and production while opening agricultural markets everywhere, and eliminating all tariffs and non-tariff barriers in both manufacturing and services.
- Topic:
- Security, International Trade and Finance, Leadership, Economy, and Economic Growth
- Political Geography:
- North America, Global Focus, and United States of America