Not the start of the decline of globalisation – just of China's dominance
Determined to have his FDR moment, Joe Biden’s latest policy seems likely to have put ...
© Khunaspix Dreamstime.
By Alex Lennane
An interesting article from the WSJ on the impact on supply chains of China’s decision to devalue the yuan. While there is no indication that factories will move back to China, as the change is too minimal, it will be cheaper to buy Chinese goods, and demand for foreign imports is likely to fall. Exports fells 8.3% in July, and the lower production costs are likely to boost this figure. US exports are those most likely to suffer, says the WSJ.
Comment on this article