This paper revisits the issues of reshoring and diversification of China-centric production networks amid the growing momentum for making global value chains (GVCs) more resilient, flexible, and robust following the disruptions caused by the COVID-19 pandemic. What is the current structure of global production and how important is China's role in it? What are the risks and benefits of diversifying GVCs away from Chinese manufacturing hubs? The answers to these questions are important to understand the current shakeup in GVCs for the Philippines.