Overseas media: An increasing number of Chinese factories are relocating their production lines to Egypt to avoid high US tariffs.
A guesthouse in Cairo, Egypt, operated by a 26-year-old boss named Jia Hao (name phonetically translated), which was originally a transit point for tourists visiting the pyramids, has since this spring attracted factory owners from China and Southeast Asia.
These businessmen are not traveling for sightseeing but for survival of their businesses, booking stays lasting up to a week. Jia Hao provides them with transportation, translation services, and even participates in investment negotiations. This reflects a major shift in the global supply chain, as many Chinese manufacturers are setting up factories in Egypt to avoid US tariffs.
Since the implementation of tariffs on China during Trump's first term, Chinese exporters have been shifting their production en masse, initially favoring Southeast Asia. However, in April this year, Trump imposed "reciprocal" tariffs of up to 49% on imports from Southeast Asia, prompting more Chinese companies to turn to Egypt, an African "safe haven."
Original article: https://www.toutiao.com/article/1835011520638984/
Disclaimer: The article solely represents the author's personal views.