Mapping the realignment of global value chains

BIS Bulletin  |  No 78  | 
03 October 2023

Key takeaways

  • The latest firm-level network data reveal that global value chains have lengthened, although without the accompanying network densification that might indicate that supplier relationships are diversifying.
  • Lengthening of supply chains is especially significant for supplier-customer linkages from China to the United States, where firms from other jurisdictions, notably in Asia, have interposed themselves in the supply chain.
  • Nevertheless, these recent developments have not so far reversed the long-running trend toward greater regional integration of trade in recent decades, especially in Asia.