News Snapshot:
The gulf between the U.S. and China is widening, which could be good news for stocks benefiting from the reshoring of industries that migrated over the past 40 years. If President Xi Jinping’s consolidation of power in China demonstrates anything, it is that the old model of building products in Asia and shipping them back to America is no longer viable. While Xi places political gains over economic ones, the U.S. appears ready to back a zero-China policy, says Gavekal Research’s Louis Vincent Gave.
