Demand for Resilience Ushers in New Era of Diversification
· Jane Fraser, Chief Executive Officer of the Citigroup (United States)
Summary written by Dark Majestic in its own words · topics: financial stability, trade, fragmentation and geopolitics, development and emerging economies, growth, investment and productivity
JF · Jane Fraser · Citigroup WikiDemand for Resilience Ushers in New Era of DiversificationContextAPEC CEO Summit 2023, San Francisco.
Why it mattersCiti's chief argues for diversifying supply chains rather than decoupling.
Problems raised- Geopolitical and economic shocks exposed over-concentrated supply chains.
- Excessive self-reliance in the name of security could hurt growth and affordability.
- Building new supply chains and trade links takes years.
Solutions proposed- Diversify supply chains and open new trade corridors instead of decoupling.
- Bring smaller firms and developing-country suppliers into global trade.
- Sign regional trade agreements that open market access.
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