Amid growing uncertainty over the U.S. trade war, multinational companies have been forced to reassess and restructure their global supply chains.
Robert Koopman, former chief economist and director of the economic research and statistics division at the World Trade Organization, warns that while trade protectionism may provide a short-term boost to U.S. manufacturing, it comes with significant economic downsides.
"If we're going to start producing t-shirts, apparel, shoes, or assembling iPhones domestically, that capital and labor will need to be reallocated from other sectors of the economy," said Koopman.
"That's likely how economists would view this—as inefficient," he added.
Reporter | Gu Yuebing
Video Editor | Lu Xiaoyue
Video Script | Gu Yuebing, Liu Xiaodi
Cameramen | Gu Yuebing
Text | Gu Yuebing, Liu Xiaodi
Editors | Yao Yijiang, Yuan Zixiang, James, Shen He
