This episode examines China’s changing role in supply chains and the factors behind recent shifts in global production. Our guest, Dr. Wang Tao, explains why certain companies and sectors are more inclined to move their production outside of China while others choose to stay. Dr. Wang also assesses the impact of the Covid-19 pandemic and US-China trade war on supply chain decisions, as well as how the new Hong Kong national security law (and resulting restrictions imposed by the US) might affect reshoring. Dr. Wang Tao is a Managing Director, Chief China Economist, and Head of Asia Economic Research at UBS Investment Bank, where she leads a team that covers macroeconomic and policy issues in Asia and China. Prior to joining UBS, Dr. Wang was Head of Greater China Economics and Strategy at Bank of America and Head of Asian Economics at BP plc. She is a member of the Mainland Opportunities Committee of the Hong Kong Financial Services Development Council as well as a member of the Chief China Economists Forum.