China’s Response to Decoupling
Despite its comprehensive and adaptable economic system, China cannot disengage fully from global supply chains – at least not without paying a heavy price. But the same is true of the West: just as Chinese industry would suffer massively from the economy’s isolation, so would Western businesses.
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BEIJING – Before Deng Xiaoping launched China’s reform and opening up, the People’s Republic was working to establish a self-sufficient economy. But after decades of integration into the global economy, autarky certainly is no longer an option.