Supply chains are diversifying away from China, causing a shift in global-trade patterns. Data shows that while manufacturing activity for end products has been moving out of China, supply chains haven't decoupled from the country. "Companies are moving manufacturing processes to other countries, including parts of Asia and North America, to diversify their supply chains. Companies are moving their supply chains out of China. As Insider reported in April, even Chinese companies are moving their supply chains out of China to avoid risks.

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Persons: Donald Trump, Biden, Misha Govshteyn, Nomura, Sonal Varma, reexported, —, Frederic Neumann, Yukon Huang, Genevieve Slosberg, Lu Yucong, Carnegie's Huang, MaroFab's Govshteyn Organizations: Service, Apple, Mazda, Asia Supply, Nomura Holdings, East, HSBC, Association of Southeast, Nations, Carnegie Asia Program, Financial Times Locations: China, Southeast Asia, Wall, Silicon, Asia, Washington, Beijing, Vietnam, Bangladesh, North America, Houston, South Korea, Hong Kong, China's, India, Japan, Europe, Yukon, America, United States, Guangdong