China's diversification into Southeast Asia and Africa isn't just about moving factories—it's about embedding itself in regional value chains, which gives it more leverage in future negotiations and reduces its vulnerability to U.S. tariffs.

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China's diversification into Southeast Asia and Africa is a strategic move, but it doesn't automatically translate to long-term advantage. The U.S. is still a major market, and China's export decline during the trade war suggests the strategy isn't yet paying off in measurable economic terms.