And yet I regularly hear of people on-shoring manufacturing again, after many years of having to do very intensive spot-checking of the manufactured goods to ensure they were being built to the agreed spec and not having cheaper components used instead, or having too many supply chain issues leading to unreliable, late delivery.
It still appears (to a non-expert, anyway) that there is a root issue with the Renminbi being pegged below its natural exchange rate to artificially depress their export prices, which seems to be coming close to creating a situation much like that which triggered the Opium Wars when China was known as the 'silver grave' of the world. But then, most have their inbuilt distortions. China - the pegged currency. Europe - the Common Agricultural Policy. USA - Prison labour.
It still appears (to a non-expert, anyway) that there is a root issue with the Renminbi being pegged below its natural exchange rate to artificially depress their export prices, which seems to be coming close to creating a situation much like that which triggered the Opium Wars when China was known as the 'silver grave' of the world. But then, most have their inbuilt distortions. China - the pegged currency. Europe - the Common Agricultural Policy. USA - Prison labour.