What MNCs must do to survive – and leverage – the China Shock 2.0
The path lies somewhere between decoupling from China and pursuing global integration
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FOR decades, multinational companies (MNCs) have faced the challenge of coming up with a strategy to compete effectively in China. Their newest and more profound difficulty might well be the China Shock 2.0.
The phenomenon refers to the current global economic disruption caused by China’s domestic strengths in advanced manufacturing and high-tech sectors, such as electric vehicles, batteries and solar panels.
Global trade, competition and industrial policy are being affected by the surge of low-cost exports from these industries due to heavily subsidised industrial capacity and weak domestic demand in the country.
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