BLUFDecades of geopolitics built on significant economic dependence on Chinese manufacturing is about to change as western companies plan to move production to countries other than China.
This article by Hope King, writing for Axios, makes the following points:
- Apple has accelerated plans to move some of its production outside of China as stringent COVID policies bite hard.
- China’s share of global exports of furniture, footwear and clothing accessories has fallen since 2016.
- Analysts view Mexico and Vietnam as countries that could benefit the most from diversifying supply chains.
Recent Runway Posts related to this topic:
References from the Web:
- OCT 2022 China, ‘factory of the world,’ is losing more of its manufacturing and export dominance, latest data shows—CNBC
- OCT 2022 Five reasons why China's economy is in trouble—BBC