From Just in Time to Just in Case

The evolution of international trade has moved from classical theories of specialization toward current models focused on efficiency and resilience. This paper examines the conceptual and operational milestones that have transformed global production and exchange, the vulnerabilities that emerged from highly optimized supply chains, the distributional impact of trade on manufacturing employment, and the recent shift toward more protectionist tariff policies. It also includes an appendix with comparative tariff evidence from the world’s major markets, illustrating the transition from Just in Time to Just in Case and the emergence of a new configuration of global value chains