Autor: Robert Kuttner | 28. 2. 2023
In the absence of more attention to the supply chain, the U.S. is becoming even more reliant on Beijing—and ‘friendshoring’ often increases that dependence.
Despite all of President Biden’s efforts to contain China and bring production home, there is more interpenetration of the two economies today than ever. Recently released 2022 trade statistics show that U.S. imports of products from China totaled $536.8 billion in 2022, a 6.3 percent increase from 2021. U.S. exports to China grew far less—by 1.6 percent to $153.8 billion. And these figures may understate the imbalance, because they don’t capture the entire supply chain of inputs made in China.
More: portside.org
