, 5 tweets, 2 min read Read on Twitter
#Europe Joins #US Companies Moving Out Of #China - Make no mistake about it, the trade war is absolutely remapping global supply chains … to the detriment of Chinese manufacturing. forbes.com/sites/kenrapoz…
The percentage of China-leaving businesses surveyed by quality control and supply chain auditor QIMA was 80% for American companies and 67% for those based in the European Union.
QIMA has more than just anecdotal evidence. Demand for their China-based audits dropped by 13% as mainland manufacturers are either losing their foreign clients faster due to costs associated with tariffs or are relocating manufacturing out of China to avoid those tariffs.
European companies are less affected by the trade war because their countries have not slapped tariffs on Chinese imports. But QIMA thinks they have their own reasons to reduce their dependence on China manufacturing. Most are diversifying to southeast Asia and closer to home.
This ongoing diversification of the global supply chain creates ample opportunities for corporate investors and gives rise to new markets in countries like Vietnam, now getting the equivalent of a steroid shot to beef up their own economy.
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