Countries are walking away from trade with China after coronavirus outbreak
Saturday, April 25, 2020 - Filed in: General Interest
Purposefully changing the lines of world supply in the midst of a global crisis is an ambitious move. China is the world’s largest manufacturer, and the pandemic has highlighted just how dependent the rest of the world is on their production of medical supplies, among other products. If trading countries like Japan, the US, and Canada want to find an alternative to being as reliant on China as they have been in the past, it won’t come easily. But COVID-19 might give them the incentive to attract businesses away from Chinese manufacturers.
This article provides an interesting perspective. Perhaps the age of low cost product manufacture and import from China may be soon coming to an end. We must be mindful, however, that, In exchange, we must then be prepared for less Chinese investment.