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US firms in some sectors moving out of PRC: Goldman Sachs

19
Sep '20
Pic: Shutterstock
Pic: Shutterstock
Goldman Sachs recently said only a limited number of US firms in specific industries are moving out of China, while few in many other industries are doing so. A report by the investment bank said in apparel and smartphones, nearly all US companies have moved or plan to move at least part of their operations out of China, while most semiconductor and health care companies are actually expanding their production there.

In labor-intensive industries, China’s overall advantage in manufacturing remains unchallenged, a news agency reported citing the document.

China is still attractive to foreign manufacturing investments for its huge domestic market, complete industrial supply chains and good infrastructure, said Goldman Sachs, which found limited evidence of a large-scale return of manufacturing activity back to the United States.

Fibre2Fashion News Desk (DS)


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