Semiconductors, the tiny chips that power everything from Apple iPhones to F-35 fighter jets, are a true product of globalization. Their technological sophistication is matched only by the logistical complexity of their supply chains, which stretch across the planet. It should be no surprise, then, that these chips are feeling the impact of accelerating deglobalization. Over the past several years, manufacturers of everything from shoes to home appliances have moved to reshore production, encouraged by protectionist governments erecting trade barriers to protect domestic economies from geopolitical forces. Gradually, the “just-in-time” supply chains of the globalized world, which outsourced aspects of [...]
Shanghai is gradually easing the draconian lockdown it implemented since late March following the largest nationwide outbreak of the coronavirus since the pandemic began. The extended shutdown led to widespread shortages of food and supplies across China, triggering an uproar against the country’s “Zero-COVID” policy. But with the number of daily infections topping 20,000 this week and the virus spreading to other provinces across the country, China is far from out of the woods. The two-phase lockdown was originally supposed to last four days each for Pudong and then Puxi, which comprise the city on either side of the Huangpu River. But it [...]
On March 9, after a long campaign and an even longer election night, South Korea finally elected a new president: Yoon Suk Yeol, of the conservative People Power Party. The 61-year-old career prosecutor, who won by less than 1 percent of the vote, may not have the strongest electoral mandate to work with. But he is nevertheless expected to make dramatic changes to the country’s foreign policy once he enters office on May 10. Since Yoon is new to politics, it’s hard to know what to expect of him once he takes over. That’s all the more true because public [...]
