Some 41% of Americans say they will not by Made in China products every again.
Tempers and emotions are running high in both populations due to the economic destruction caused by virus outbreak first reported in Wuhan, China in December. All of China’s Western trading partners are angry. How long that anger lasts, and what it results in, is anybody’s guess at this point. Washington is making the most noise about it, so far.... [+]
in Hsinchu, Taiwan. Wilbur Ross, Commerce Secretary, said the company is going to open a chip-making plant in Arizona. Photographer: Ashley Pon/BloombergThe fact that this is an election year also means China can count on being a punching bag. Today’s headlines in theshow concern over President Trump’s threats to increase tariffs as a form of punishment for the coronavirus, going so far as to hint that it would be better if the U.S. stopped relying on China as a manufacturing hub.
Earlier this week, billionaire George Soros said that he feared the world post-pandemic meant deteriorating U.S.-China relations, among other things. Any worsening of relations between the two sides would deal a mighty blow to a globalization that, for years, has centered around China’s low cost labor force and lackluster regulatory environment.
“Before the pandemic I already saw a simmering issue regarding environmental issues, especially from food producers who wanted full transparency through their supply chain,” says Bill DeMartino, chief customer officer for RiskMethods, a supply chain risk management solution whose global headquarters sit in Munich. “These companies wanted to show consumers online where all the ingredients came from. They could tell their consumers who care about supporting small businesses, or local business.
This is more true the more complicated the product line. Baseball hats and Christmas ornaments might all be made in China, but electronics may only be partially made there.... [+]Taiwan Semiconductor Manufacturing, the biggest chipmaker in Asia, said it plans to build a $12 billion nano-chip making factory in Arizona, Reuters
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