Home / World News / Countries prod firms to reduce dependence on China, but find few takers

Countries prod firms to reduce dependence on China, but find few takers

Even after the coronavirus derailed trade, few want to leave China's skilled workforce and efficient suppliers of raw materials to move to other countries

Premium

Drug makers stand out as one industry that is trying to reduce reliance on Chinese suppliers by setting up sources of raw materials in the US and Europe

AP | PTI Beijing

5 min read Last Updated : Jun 30 2020 | 5:35 PM IST

The United States, Japan and France are prodding their companies to rely less on China to make the world's smartphones, drugs and other products.

But even after the coronavirus derailed trade, few want to leave China's skilled workforce and efficient suppliers of raw materials to move to other countries.

Disruptions from the pandemic, on top of the US-Chinese tariff war, fuelled warnings that relying too much on China leaves global companies vulnerable to costly breakdowns in the event of disasters or political conflict.

Drug makers stand out as one industry that is trying to reduce reliance on Chinese suppliers by setting up sources

Topics : Coronavirus China imports COVID-19

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in