Opinion | As supply chains shift away from China, others get their own economic miracles
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As global supply chains shift away from China, countries like Vietnam and Mexico are becoming attractive manufacturing hubs. Chinese companies are investing in manufacturing facilities in these countries to maintain sales in Western markets. Mexico is expected to gain the most, with an industrial estate in Nuevo Leon generating $5 billion in investment and creating 7,000 jobs. Vietnam is also hosting more Chinese manufacturing, with one project expected to create 400 new jobs. The shift in trade is benefiting these new manufacturing countries through investments, job growth, and knowledge transfer from China. While Chinese-backed factories in the US face resistance, they bring job growth and knowledge transfer that will benefit the American economy. The shift in supply chains is reshaping the global trade matrix, with new winners and losers emerging. Chinese companies will still be able to do business, but they will lose their dominance in the supply chain and the technology behind it.
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