China to Lose its Hegemonic Tag of World's Factory

China is about to be dethroned from its long-standing hegemonic position of being the world’s factory. One of the major suppliers to Apple Inc and several other tech giants, Hon Hai Precision Industry Co., also known as Foxconn is going to diversify its supply chain between China and the US by moving parts of its production to South East Asian nations, says a report by Bloomberg. The iPhone assembler has cited the escalating trade war between China and the US, and the tariff being added to China made products headed to the US markets as the reason for diversifying its operations and moving out of China partially.

Raccontata datheindustryoutlook.com