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East Asia must adapt to retain its economic advantages

A major pivot away from the region is unlikely over the medium term

| East Asia
Production line at an electronics manufacturer in Fuyang, China, pictured on Apr. 16: East Asia's abundant labor supply and lower labor costs make it a sweet spot for global value chain investments.   © Sipa/AP

Marthe M. Hinojales is an economist and Vanne Khut is a researcher at the ASEAN+3 Macroeconomic Research Office.

Global value chains have long formed the backbone of economic growth and trade, especially in East Asia.

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