China remains a "critical supplier" to the world and efforts for a full decoupling remain "difficult, if not impossible," a trade report by Allianz Trade said.
That's according to the report which showed that only 27% of companies surveyed in the U.S. were planning to expand in China.
The Allianz Trade survey polled more than 3,000 companies in China, France, Germany, Italy, Poland, Spain, the UK and the U.S. were surveyed about their outlook for global trade in 2024.
More than one-third of respondents plan to increase their China footprint, while only 11% said they would decrease it, the trade survey showed.
"China remains the world's critical supplier, from which a full decoupling seems difficult, if not impossible," the Allianz Trade report said.
Persons:
Economic Research Ana Boata
Organizations:
Allianz Trade, Allianz Trade's, Economic Research
Locations:
Qingdao Port, Qingdao, China, Germany, Spain, France, U.S, Italy, Poland