Thousands of British businesses are cutting their economic ties with China as they anticipate faster decoupling between China and the West, a major UK business group has said.
Confederation of British Industry (CBI) Director-General Tony Danker said thousands of companies in the UK are currently rethinking their supply chains in anticipation of hardening anti-China political sentiment.
“Every company that I speak to at the moment is engaged in rethinking their supply chains,” he told FT Weekend. “Because they anticipate that our politicians will inevitably accelerate towards a decoupled world from China.”
Danker said the UK needs “new strategic alliances in the world” as tensions rise with China. In Washington, he noted, the need for companies to build “resilience” in preparation of a divorce from China was “all they are talking about.”…