Chinese exports, such as goods made by Hon Hai, are contributing less to China's economic growth. © Reuters
Nikkei Asian Review: Trump signals the end of 'Made in China'
Various news reports have recently suggested that Hon Hai Precision Industry, the Taiwanese contract manufacturer of Apple products, is considering shifting production from China to the U.S. The speculation is nothing new. But this is the first time it has reared its head since Donald Trump won the U.S. presidential election.
The president-elect's campaign-trail threats of slapping heavy tariffs on Chinese exports have brought something new to the equation.
On Nov. 18, the Nikkei newspaper reported the move from Taipei, citing sources close to the matter. In June, Apple allegedly asked Hon Hai to shift production of the iPhone to the U.S. With the campaign in full swing, the Republican presidential candidate was pulling no punches in his criticism of Apple for outsourcing work to China.
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Update: Apple in line of fire if trade wars start (Financial Times)
WNU Editor: The last thing that the Chinese want right now is a trade war with the U.S. and a slowdown in its economy. And while China's currency is now at almost record lows that makes its products even more competitive on world markets .... China currency dips to lowest level versus dollar in 8 years (AP) .... calls for tariffs and other protective measures are growing .... China will defend trade rights in face of Trump tariff threats, says official (The Guardian/Reuters).
