2023-09-03 16:27:48
“Faced with economic tensions that would call into question the social contract, President Xi Jinping might play the card of galvanized nationalism”, points out Elvire Fabry, expert in geopolitics of trade at the Jacques Delors Institute. ALET PRETORIUS/REUTERS
DECRYPTION – India, Vietnam, Thailand or even Malaysia and Mexico… So many countries that host the factories of large companies that have decided to lighten their presence in China.
Taiwan’s Foxconn, Apple’s main supplier, plans to invest further “billions of dollars” in India. The Japanese Sony wants to take 90% of its camera production out of the Middle Kingdom and only leave production for the domestic market there.
The geopolitical tensions between China and the United States, the reciprocal export restriction measures taken by Beijing and Washington, the fragility of supply chains brought to light with the pandemic or even the slowdown in Chinese growth… Diversification incentives for foreign companies operating in China are piling up. They “are more afraid than ever to invest in it”, points out Elvire Fabry, expert in trade geopolitics at the Jacques Delors Institute. By 2022, they had already largely suspended their spending. And the bulk of European investment has been made by a few large groups, mainly German. Two out of three European companies find it more difficult…
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