- For many years, the leading exporters
to the U.S. remained unchanged.
But between 2018 and 2022, high tariffs
and supply chain pressures led
to a 10% drop in goods shipped from China to the U.S.
Are we about to see an even more dramatic shift?
As the trade flows changed rapidly,
the 10 ASEAN countries were among the biggest gainers,
with a 65% jump in their goods exports to the U.S.,
and India saw a rise of 44%,
aided in no small measure by the fact
that India also has a large domestic market
and a large talent pool.
Although China remains competitive, if India
and the ASEAN countries enhance their infrastructure,
address sustainability concerns,
and further improve their business environments,
they could become large export powerhouses
and emerge as the biggest winners
of the global supply chain reconfiguration.