Multinational companies are facing a slew of fresh challenges doing business in China because of the ever-deteriorating U.S.-China relationship, enduring pandemic restrictions and the specter of war with Taiwan.
are among the firms that have shifted portions of their production out of China in recent years, seeking cost savings in places like Vietnam and India.
A review of other countries in Southeast Asia proved even less fruitful, he said. Though Thailand offered relocation incentives and a promising quality of life for foreigners, he worried about local corruption and the availability of components. The Philippines, Malaysia and Indonesia were too close for comfort to the South China Sea, another geopolitical hot spot, he decided.
Consultants and lawyers said the path out of China is rife with hurdles and can often take years, though companies are rarely willing to discuss it publicly because of political sensitivities. The task has become even trickier as alternatives such asto keep up with demand and the war in Ukraine has ruled out possibilities in Eastern Europe.
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