The coronavirus pandemic has exposed the vulnerability of U.S. supply chains and triggered calls for American multinationals to reshore production. Coming on the heels of the U.S.-China trade war, it has brought widespread predictions of deglobalization. But American multinational companies know that deglobalization of supply chains and de-coupling from China will actually reduce their ability to produce in the U.S. and compete with Chinese companies in the long run.

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We are still in the midst — perhaps even the early days — of the coronavirus pandemic, but there have been many predictions of how it has permanently changed the world. The virus exposed the vulnerability of our supply chains, interrupting the…

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