In 2018, the United States launched a trade war with China, marking an abrupt departure
from its historical leadership in integrating global markets. By late 2019, the United States …

This paper surveys the recent body of work in economics on the importance of global value
chains (GVCs) in shaping international trade flows and production patterns. On the empirical …

This paper evaluates the extent to which the world economy has entered a phase of
deglobalisation, and it offers some speculative thoughts on the future of global value chains …

The US-China trade war created net export opportunities rather than simply shifting trade
across destinations. Many “bystander” countries grew their exports of taxed products into the …

Global supply chains have come under unprecedented stress as a result of US-China trade
tensions, the Covid-19 pandemic, and geopolitical shocks. We document shifts in the pattern …

This paper examines the reshaping of supply chains using detailed US 10-digit import data
between 2017 and 2022. The results show that while US-China decoupling in bilateral trade …

The Trump administration changed US trade policy toward China in ways that will take years
for researchers to sort out. This paper makes four specific contributions to that research …

We evaluate the duration of the China trade shock and its impact on a wide range of
outcomes over the period 2000 to 2019. The shock plateaued in 2010, enabling analysis of …

This paper studies the impact of the US-China tariff war on China, using high-frequency
night lights data and grid-level measures of tariff exposure. Exploiting within-grid variation …

This chapter reviews a recent body of theoretical and empirical work that studies the
normative and positive aspects of trade policy. We start by presenting reduced-form …