The trade war against China has always been portrayed by United States President Donald Trump as a means to win back American industry and jobs. But while his tariffs have cut Chinese production, leading to factory closures, the return of manufacturing to his country’s shores has not gone as anticipated. Production has instead largely moved to cheaper labour markets in South and Southeast Asia and Mexico. Worse, his actions have hit economic output, leading to a lowering of US and global…
Brought to you by SCMP. Read more: https://ift.tt/2Zqonyq
* * * * *
Breaking news, analysis and opinion from the SCMP’s Hong Kong edition.