The global trade environment in the Biden era and response strategies for Korea

Many expect that the trade war between the US and China will persist, and East Asia's global value chains will undergo a significant transformation in the mid- to long-term, as China's contracts while that of ASEAN expands. Accordingly, to effectively respond to the coming changes, Korea should adopt proactive strategies to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and attract quality FDI in an effort to realize sustainable growth.