
Stopping the Next China Shock
Twenty-five years after the beginning of the first so-called China shock, when a surge in Chinese exports disrupted manufacturing and industrial sectors worldwide, Beijing has again begun to flood global markets with a wave of heavily subsidized manufactured goods and materials—including everything from metals and textiles to more cutting-edge products such as electric vehicles, lithium batteries, and semiconductors. In more economically advanced countries, this influx threatens to upend emerging technology sectors and derail post-pandemic plans to “de-risk” economies by shifting supply chains away from China. In the developing world, a new tsunami of cheap imports could disrupt plans for industrialization and modernization.… Seguir leyendo »