Politicians and leaders in the West have been speaking of consequences for China for the coronavirus pandemic, but mostly have been focused on how to make their own economies more resilient as the lockdowns exposed serious vulnerabilities in supply chains, specifically for those that create medical equipment. 

Nobel laureate Joseph Stiglitz said policymakers should view the move toward deglobalization as one that is focused on resiliency for the supply chain, not job protection. Mohamed El-Erian foresees less globalization with less dynamic productivity and higher industrial concentration. He thinks countries should work together and abide by the “rules of globalization.” 

The global economy faced a microcosm of deglobalization a few years ago when China implemented the Blue Sky policy. China prohibited recycling facilities from purchasing international bales of scrap materials with certain levels of contamination that were…

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