It is not even certain that the decline in China's U.S. import share represents a true delinking, they said.
Yet in the background, the researchers noted that China had "stepped up" its trade and investment activity with Vietnam and Mexico, as well as other countries.
"The U.S. could well remain indirectly connected to China through its trade and global value chain links with these third-party countries," they argued.
Prices for goods from some countries, moreover, were beginning to rise.
Reporting by Howard Schneider; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.
Persons:
JACKSON, deglobalization, Laura Alfaro, Davin Chor, Alfaro, Chor, What's, Howard Schneider, Paul Simao
Organizations:
Biden, Trump, Federal, Harvard Business School, Tuck School of Business, Dartmouth, Fed, Thomson
Locations:
, Wyoming, China, Ukraine, freefall, Jackson Hole , Wyoming, U.S, Vietnam, Mexico