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Macroeconomics

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<li>From October 2021 to March 2022, China lost around 5% of its textile export orders, 7% of its furniture and 2% of its mechanical and electrical export orders from the United States to the 10-member Association of Southeast Asian Nations (ASEAN), especially Vietnam</li>
<li>A shift of factories away from China has been underway for years as China’s labor costs rise. Countries in Southeast Asia and South Asia such as Vietnam and India have become the top alternatives for their abundant and cheap labor forces</li>
<li>The relocation has been driven by lower costs and the trade war between China and the United States</li>
</ul>


From October 2021 to March 2022, China lost around 5% of its textile export orders, 7% of its furniture and 2% of its mechanical and electrical export orders from the United States to the 10-member Association of Southeast Asian Nations (ASEAN), especially Vietnam
A shift of factories away from China has been underway for years as China’s labor costs rise. Countries in Southeast Asia and South Asia such as Vietnam and India have become the top alternatives for their abundant and cheap labor forces
The relocation has been driven by lower costs and the trade war between China and the United States


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