The US and Europe have focused heavily on the need to “de-risk” supply chains away from China. But it’s hard for international industrial players to leave.
Already a subscriber?In March, as a visiting delegation of Swedish investors and bankers passed through China’s factories and shipyards for the first time since the pandemic, what they witnessed was a shock to their systems.
Automobiles are just one part of a wider industrial framework within which, for decades, developed economies have relied on China as an inexpensive and collaborative manufacturing hub. The Swedish presence includes giants such as Atlas Copco, the world’s leading provider of air compressors, and Sandvik, which makes mining equipment.An air of collaboration, especially at foreign companies now largely staffed by Chinese nationals, has not disappeared.
Both old and new industrial companies repeatedly emphasise the need to be in China for research purposes as well as to access its vast market. Windrose Technology, an electric truck start-up that has so far produced 13 vehicles, aims to eventually list in the US but currently relies on mainland China partners, including state-owned Anhui Jianghuai Automobile Group, for manufacturing.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EV slowdown: Chinese electric cars pile up at Europe’s portsExecutives say Chinese carmakers are not selling EVs in Europe as fast as they expected, turning ports into car parks.
Read more »
Chinese Investment in Australia Hits Two-Decade Low Amid Economic SlowdownChinese investment in Australia has reached its lowest level in almost two decades, excluding the pandemic years, and is expected to continue declining as the Chinese economy slows down. According to a report by KPMG and the University of Sydney, Chinese investment in Australia fell by 37% to $1.36 billion in 2021, marking the lowest level since 2006. The decline in Chinese investment is attributed to rising tensions between the two countries.
Read more »
‘We would not survive without coffee’: how rules made in Europe put Ethiopian farmers at riskCoffee is the country’s biggest export, but millions of smallholders are being asked to provide paperwork to prove their land is not deforested
Read more »
Chinese in Pakistan told to stay alert after six killed in suicide bombingIt is the third major attack on Chinese interests in the South Asian country in a week.
Read more »
Six killed after suicide bomber rams convoy of Chinese engineers in PakistanFive Chinese nationals and their Pakistani driver killed while en route from Islamabad to dam construction site
Read more »
Chinese men in Indonesia wanted to go by boat to Australia: policeThe apparent attempt was thwarted by a tip-off from the Australian Federal Police and the reluctance of local fishermen to make the journey.
Read more »