US companies yank money from China at faster pace

shockedcanadian

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Aug 6, 2012
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China trade war: US companies yank money from country at faster pace

The American Chamber of Commerce in Shanghai said Wednesday U.S. companies are steering business away from China at an increasing rate amid the escalating trade war between Washington and Beijing.

More than a quarter (26.5 percent) of the 333 respondents to AmCham’s annual survey said they have redirected investment away from China over the past year, up 6.9 percentage points from 2018. Technology, hardware, software and services companies (40 percent), industrial manufacturing (37.1 percent) and chemicals (36.7 percent) were the most likely to look elsewhere.

“The causes are manifold, but include a need to guard supply chains from any further deterioration in U.S.-China trade relations and attendant tariffs; a Chinese regulatory environment that still favors domestic companies; and growing labor and material costs in China,” AmCham said.
 

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