The world’s advanced economies risk a significant GDP loss if they move too quickly to localise supply chains as a result of the deteriorating geopolitical environment, the OECD has warned.
Modelling by the international organisation found that aggressive reshoring of supply chains could decrease global trade by 18 per cent, with some countries losing up to 12 per cent GDP compared with persevering with a globalised trading regime.
The Paris-based OECD, which represents most of the advanced economies, issued its warning as rising trade tensions between the US and China have intensified questions in boardrooms about the risk posed by integrated supply chains.
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