Experts say multinational companies are looking to shift their manufacturing hubs to India and Vietnam.
Now, Apple is making moves to exit its manufacturing hub from the country.three years of strict lockdowns
Jennifer Hsu from the Lowy Institute says China's zero-COVID policies are just the tipping point of historic struggles faced by workers there."Prior to COVID, we've seen disruption happen at Foxconn factories across China for lack of safety measures, and the long hours worked by factory workers," she said.In 2010, a Guardian newspaper investigation reported 18 workers killed themselves, while another 20 were talked out of doing so., " she said.
"Many analysts are now saying the decoupling between China and the US in terms of technological dependence is taking place. "Without a doubt, China's economy is slowing," Ms Hsu said. "And zero-COVID is a big part of the slowing of its economy." "The main areas of political risk, speaking at a general level are things like the overall business environment that's created by a region's policies, regulations, and laws that are on the books and enforced in a particular country," he said.
"The first is a kind of secular slowdown of the Chinese economic growth rate, which means that the pace of market expansion is going to be lower than in the past," he said.
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