Chinese economists warn Beijing to prepare for decoupling from US
scmp.com
scmp.com
Along this line of reasoning, the human race has found small comforts of cheap goods, evidently, a trade off for a better quality of life - short term benefit but a long term risk of extremely concentrated supply chain. Just the way Japanese combated Swiss prowess in watchmaking, we need alternative sources for many industries that are dominated by China. We are starting to see this - Vietnam, Thailand, Indonesia and India are becoming satellite hubs of manufacturing in Asia.
Most of it had little to do with China but decisions made by the US corporate sector.
Essentially the US Govt. cannibalized it's middle class to feed the electronic, military and finance sector.
It's hard to deal with voters and labour unions, its much easier to deal with authoritarian regimes when you are a multinational.
Yanis V. has documented this dynamic of globalization quite well in his books.
> Vietnam, Thailand, Indonesia and India are becoming satellite hubs of manufacturing in Asia.
Why do you think US multi. nationals avoid India ? Given it's a parliamentary democracy and has a large english speaking population ? Why did they set up shops in China ?
In India you can have labour strike of 31 million people !
A 2 dollar / day earning India voter has more power over its government than a 30 dollar / day earning Chinese citizen.
They will move to Vietnam, Indonesia and Thailand and continue their exploitation there but will avoid India. This just shows how misinformed you are about Asia.
The key change in Asia has been China, who are setting up technology companies in other parts of Asia, including India ( often US stolen IP being shared ).
The main goal here is to get rid of the importance of dollar / yen swap lines. It has caused a lot of problems for trade between Asian countries.