America is losing ground in Asian trade
China’s campaign to regionalise supply chains is doing better than appreciated
The intensifying rivalry between America and China has not been kind to open markets. Letting defence or foreign ministers dictate trade policy, it turns out, is not conducive to making goods move more smoothly across borders. Yet even as globalisation crumbles, a race to gain commercial clout in the world’s most populous and fastest-growing region has kicked off. It is a race China is quietly winning.
This article appeared in the Finance & economics section of the print edition under the headline “The great steeplechase”
Finance & economics June 17th 2023
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- A new super-regulator takes aim at rampant corruption in Chinese finance
- Sooner or later, America’s financial system could seize up
- AI is not yet killing jobs
- America is losing ground in Asian trade
- Wage-price spirals are far scarier in theory than in practice
- South Korea has had enough of being called an emerging market
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