Our world is interdependent, connected by global flows of goods, services, capital, people, data, and ideas. But in recent years, major disruptions to trade and supply chains, coupled with a changing geopolitical landscape, have prompted discussion about how to make those connections more resilient.
No major region of the world is close to being self-sufficient, but in every sector—and indeed at every stage of the production process—there are products whose origins are concentrated in just a few geographies. When interdependency is subject to such concentration, there can be particular challenges. Understanding each economy’s “concentration fingerprint” is a useful starting point for managing it.
In this session, McKinsey Global Institute partner Jeongmin Seong, author of Global flows: The ties that bind in an interconnected world and The complication of concentration in global trade, will take you on a tour of MGI’s findings around global flows and concentration, and discuss with participants how we can seek to balance growth and resilience in uncertain times. He will also showcase MGI’s immersive and interactive digital platform, which enables users to delve into diverse facets of trade flows across various geographies and sectors.
Users will be able to explore answers to following questions:
- Trade network: Which key trade corridors play a pivotal role in global commerce?
- Trade composition: Which sectors and economies are major contributors to an economy’s trade
- Trade evolution: In what ways has the landscape of trade changed over time?
- Trade interdependencies: To what extent do economies rely on each other for trade?
- Product concentration: Which specific products are predominantly supplied by a limited number of economies?