Chinese supply chains may be less visible, but they remain extremely important to the American economy.Mr Trump has threatened enormous tariffs on all Chinese products should he become president in November. Such levies may be enough to encourage some companies to move out of China for good. Economic efficiency, provided by China’s huge scale and manufacturing expertise, is a powerful force in favour of the status quo. Decoupling may be strong rhetoric, but that is not quite the same thing. Vietnam’s trade with America is booming. But its production remains deeply intertwined with Chinese supply chains, meaning that much of the increase may be accounted for by products with little Vietnamese content. What can happen to facilitate decoupling ?
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