China And U.S. Pushing A Deglobalization Wave [Forbes]
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Source: Forbes
Kenneth Rapoza Senior Contributor i Opinions expressed by Forbes Contributors are their own. Markets I write about business and investing in emerging markets. Since Trump was elected, Beijing has been trying to portray China as a defender of global trade and multilateralism in the face of complaints by Washington and other trading partners about industry policies they say messes up everything. (AP Photo/Andy Wong) Globalization is in intensive care. The supply chain is moving out of China. Not in droves, but it's moving out. The days of industry moving to China because of dollar-a-day labor is long gone. The day of staying in China because of lackluster environmental rules, labor laws, and—of course—cheap labor has shifted, causing some to refer to that shift as a deglobalization wave. Moving supply chains from one country to another is not the death knell for globalization. But the
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