News Snapshot:
“US imports from other countries such as Vietnam [are] rising as producers shift manufacturing away from China,” said Tu Xinquan, dean of the China Institute for WTO Studies at the University of International Business and Economics in Beijing. The relocation of manufacturing out of China was initially spurred by protectionist Trump-era tariffs on goods, as well as labour shortages in China that drove up wages and costs. But the trade segregation between the superpowers has accelerated under the Biden administration, which has pursued an economic security agenda amid tensions over issues ranging from advanced semiconductor technology to Beijing’s threats against...
