The CISCE: Injecting fresh momentum into the global supply chain

Editor's note: Imran Khalid, a special commentator on current affairs for CGTN, is a freelance columnist on international affairs. The article reflects the author's opinions and not necessarily the views of CGTN.

The ongoing China International Supply Chain Expo (CISCE) marks a pivotal moment as the world's first supply chain expo at the national level. Under the theme of "Connecting the World for a Shared Future," reflecting a pioneering stride in the realm of supply chain expos, this event bears the weighty mantle of an open platform to ensure the stability of global supply chains.

Speaking at the inaugural session, Chinese Premier Li Qiang expressed China is willing to work with all parties to make the global industrial and supply chains more resilient, efficient and dynamic, and make greater contributions to promoting global economic recovery, development and prosperity. Li underscored the significance of upholding the resilience and stability of global industrial and supply chains as a pivotal assurance for propelling the world economy forward.

The CISCE embodies China's commitment to shouldering the responsibilities befitting a major manufacturing powerhouse. A timely and invaluable initiative, the CISCE emerges as a symbol of stability for global supply chains. The CISCE is exhibiting its expansive reach across five pivotal exhibition domains: smart cars, green agriculture, clean energy, digital technology, and healthy living. The resonance of this endeavor is underscored by the overwhelming international response it has garnered. An impressive tally reveals that over 500 companies hailing from 55 countries and regions are partaking in the CISCE extravaganza. Among this diverse roster of participantsare Fortune Global 500 companies and industry trailblazers.

Over the recent years, the United States and Western nations have been amplifying concerns about the purported risks tied to China's supply chain. Some voices go so far as to advocate for "decoupling" from China, citing national security.

However, a discerning look at the decisions made by their own companies indicates that collaborating with China is not the risky move–rather, it's the idea of "decoupling" that carries potential hazards. In an ironic twist, China now looks to be a champion of free trade by serving as the host of a significant global event, which boasts more than 500 companies from both home and abroad participating, along with international organizations.

This collective effort underscores a crucial point: maintaining stability in the supply chain is what the global economy truly needs, not disruptions. The rhetoric of risk around China's involvement in supply chains seems to be missing the mark, especially when the evidence points toward collaboration as the path forward.

Amidst Western media narratives casting the CISCE as a move by China to forge a new alliance or subtly reshape supply chains, a crucial oversight persists. The fact remains that trying to exclude China from global supply chains is an impractical venture.

It is time to recognize that the expo is not a strategic maneuver but rather a response to the misconceptions stemming from the undervaluation of China's position in the intricate web of global supply chains.

In recent decades, the world economy has evolved into a globally interconnected network, where different countries and regions are tightly linked through intricate supply chains. However, this era of economic globalization is facing substantial hurdles, including the rise of trade protectionism, geopolitical tensions and a shift toward nearshoring and friendshoring.

These challenges are exerting a detrimental impact on the expansion of global trade. Notably, just last month, the World Trade Organization (WTO) revised down its projection for global merchandise trade growth this year, reducing it from an initial forecast of 1.7 percent to a more modest 0.8 percent. The landscape of global commerce is undergoing significant shifts, necessitating a reassessment of the dynamics that have shaped the interconnectedness of our economies.In the current landscape, China's hosting of the inaugural CISCE is not just about tackling its own challenges within the global industry chains; it is an active move to shoulder the responsibility of upholding global industry chain security.

As the world’s preeminent manufacturing hub, China is playing an essential role in the complex network of global supply chains. The notion of excluding China from these supply chains under the guise of "de-risking" is not only impractical but also runs counter to market principles and the imperatives of industry chain evolution.

China's manufacturing prowess translates into cost-effectiveness and high efficiency in producing a myriad of goods. The well-established industry chain in China ensures competitive prices and a dependable level of quality. The interconnectedness is a testament to the integral role China plays in the global manufacturing landscape.

The participation of the international business community in the CISCE reflects a pressing eagerness to uphold a stable and seamless industry supply chain. This is a demonstration of China's open and cooperative posture. It goes beyond fostering trade cooperation by expanding the supply chain network, promoting collaborative development, and addressing challenges to bolster the resilience and sustainability of the global supply chain.

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