According to the Financial Times, the head of the Confederation of British Industry (CBI) had revealed that thousands of British companies are planning to cut economic ties with China.
Tony Danker, Director-General of the CBI, said UK businesses expect relations between Beijing and the West to deteriorate further, with many British companies accelerating their efforts to shift business from China to other countries.
“Every company I talk to at the moment is engaged in rethinking their supply chains,” he said. “Because they anticipate our politicians will inevitably accelerate towards a decoupled world from China.”
Danker said that if the West cut ties with China, Britain would need to find new trading partners and re-engage with old ones, such as EU countries….