- October 20, 2022
- October 20, 2022
On October 20, 2022, the Aspen Institute Germany and Telefónica Germany hosted a Digital Dish on the topic of “The New Geopolitics of Global Supply Chain Resilience” with Andreas Audretsch MdB, Vice-Chairman of the Parliamentary Group Alliance 90/The Greens, Bernard Kuiten, Director a.i. Information and External Relations Division, World Trade Organization, Simone Menne, President, American Chamber of Commerce in Germany e.V. and Dr. Klaus Wiener MdB, Member of the Economy, Environment and Finance Committees, moderated by Dr. Stormy-Annika Mildner, Executive Director, Aspen Institute Germany.
As current geopolitical events and economic trends strain production and trade networks, global supply chains are undergoing a remarkable strategic re-evaluation. The COVID-19 pandemic, rising labor costs, sanctions, and export controls in the wake of Russia’s latest invasion of Ukraine have exposed the vulnerability of global value chains. The loss of jobs and incomes for workers worldwide, surging demand and supply chain bottlenecks as well as slowing growth and rising inflation are only some of the conceivable economic and social consequences. While companies are searching for responses to supply chain challenges, policymakers question the reliance on foreign suppliers and devise strategies to protect their own industries and foster strategic independence from manufacturers, for example regarding semiconductors and microchips. However, reconfiguring global supply chains constitutes a time-consuming and costly process that includes new risks such as global subsidy races.
How can governments and businesses work together to improve the resilience of global supply chains in the current geopolitical environment? How can the European Union diversify dependencies and accelerate the uptake of digital technologies? What concrete measures are required to deal more effectively with political supply chain risks and support the multilateral rules-based trade environment? Together with a small group of selected participants, the event discussed these and many more questions over a light lunch.