Political headwinds in the US have been steadily leaning against US-Chinese integration. Of course, unanticipated events - such as Europe and America’s rupture with Russia - provide a potent reminder of the systemic risks of deep economic integration and the speed at which decoupling can occur. Unwinding those ties could end up taking just as long, and may result in lasting damage to an already battered global economy. But US technology firms invested more than two decades, and tens of billions of dollars, setting up complex production chains to provide essential goods for the e-commerce boom. It’s one thing to look outside China for other makers of toys and t-shirts. “With China accounting for 70 per cent of global smartphone manufacturing and leading Chinese vendors accounting for nearly half of global shipments, the region has a well-developed supply chain, which will be tough to replicate - and one Apple could lose access to if it moves,” Bloomberg Intelligence’s report from analysts Steven Tseng and Woo Jin Ho said.Īn Apple spokesperson did not respond to a request for comment.
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