China as 'world factory' hard to be replaced, says Singapore newspaper

A worker is producing oil filters in a factory in Xinyu, Jiangxi Province, China, June 17, 2021. (Photo: CFP) China’s position as a “world factory” is hard to be replaced, said a Singaporean Chinese-language newspaper. Even though business costs in China continue to rise, coupled with the impact of the China-U.S. trade war, transferring the industrial chains out of China faces many challenges, Lianhe Zaobao reported Sunday. An employee working for a well-known European toy company told Lianhe Zaobao that the company had been planning supply chain transfers even before the trade war, which was about four years ago, it…