This is a pretty interesting development. So in international political economy there is a general pattern of global trade expanding and retrenching in a cyclical manner. I suspect we're about...
This is a pretty interesting development.
So in international political economy there is a general pattern of global trade expanding and retrenching in a cyclical manner. I suspect we're about going through a retrenchment phase (pretty obvious with Brexit and Trump IMO) and that logic is also starting to manifest in Asia.
In this case, it seems like they're mostly trying to diversify risk out of China. But geostrategic considerations are the initial driver behind most previous retrenchments as well.
This is a pretty interesting development.
So in international political economy there is a general pattern of global trade expanding and retrenching in a cyclical manner. I suspect we're about going through a retrenchment phase (pretty obvious with Brexit and Trump IMO) and that logic is also starting to manifest in Asia.
In this case, it seems like they're mostly trying to diversify risk out of China. But geostrategic considerations are the initial driver behind most previous retrenchments as well.