China Counters Western De-Risking Tactics at Supply Chain Expo

Chinese Premier Li Qiang expressed opposition to protectionism and emphasized the need to strengthen supply chain partnerships with all countries at the first China International Supply Chain Expo. As the United States and the European Union seek to reduce their dependence on China and "de-risk" their supply chains, China warns that protectionism and geopolitical tensions pose risks to global supply chains. Recent geopolitical tensions have led foreign businesses to diversify their supply chains away from China, directing investments to countries like India, Mexico, and Vietnam. Despite a decrease in foreign investment in China, it remains an attractive option, with 45% of firms surveyed at the China International Import Expo expecting to expand their supply chains in China.