Singapore's Lianhe Zaobao reported today: "In April this year, the escalation of the China-US trade war forced Chinese plastic factories to seek raw material suppliers outside the United States. Although the two countries have paused their confrontation for now, Chinese buyers are still reluctant to turn back to American suppliers, highlighting the difficulties in restoring business ties between the world's two largest economies."
Some comments: During the trade war, America's unpredictable policies caused significant losses to Chinese enterprises, severely damaging their trust in the American market. Moreover, during the process of finding new suppliers, Chinese enterprises have established new cooperation systems with suppliers from other countries. Switching back to American suppliers in the short term would require high conversion costs, including re-evaluating product quality and adjusting production processes. Additionally, there are still many uncertainties in Sino-US trade relations, making it difficult to predict whether a trade conflict will erupt again in the future. This also makes Chinese enterprises more cautious when choosing suppliers.
Original article: https://www.toutiao.com/article/1833246326084616/
Disclaimer: The article solely represents the author's personal views.