I do believe that Steve Bannon has called it early and right and there is no turning back for the US. Indeed, via the AFR, it is working:
More than 40 per cent of American companies in China are looking to relocate following an escalation of the tariff war between Washington and Beijing, according to a survey of peak industry groups.
US business groups representing hundreds of American companies in China also said one in five companies had been subjected to more inspections and slower customs clearances since the trade war started in July last year.
A joint survey by the American Chamber of Commerce Shanghai and the Beijing-based American Chamber of Commerce China since the Trump administration increased tariffs on $US200 billion ($291 billion) of Chinese imports last week found that almost three-quarters of the 250 companies that responded were hurting because of the tit-for-tat impost exchange between the two countries.
Farewell Chinese supply chain.
David Llewellyn-Smith
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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