Commentary This is the second of two articles on the increasing risks of doing business with China, and how America and other Western-style democracies can move past it. The Russia-Ukraine war has shown it is impossible to rely on trade with, or investment in, a country bereft of democratic norms, especially a totalitarian regime like China where the government controls business. The dogmatic embrace of free trade, irrespective of the actions of the trading partners, a practice for much of the world since around 1990, has clearly endangered the global order. We discussed the inherent and escalating risks to investors and businesses from continuing to maintain normal trading relations with China in this column. In this article, we’ll discuss some strategies that governments, businesses, and investors can use for moving beyond China as a base for manufacturing and investment, while maintaining it as a marketplace for goods from America and other …
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