DECRYPTION – A break in trade with Beijing would be more damaging for the American and European economies than for the Chinese giant.
The successive crises, between the Covid pandemic, the war in Ukraine and the groundswell of global warming, are shaking up value chains on a planetary scale. Globalization is changing, marked by stronger regional integration, points out a study by Allianz Trade, the world leader in credit insurance. Since 1999, intraregional trade has increased by more than 7% in Asia-Pacific and 5% in Africa, while it has fallen by 1% in Europe and by more than 3% in America.
Another underlying trend in this uncertain environment is that states want to strengthen their strategic sovereignty. The priority is for the United States and Europe to reduce their dependence on China, which has become essential in several sectors. Thus, Chinese production that enters the global value chains weighs around 3400 billion dollars, far ahead of the United States (1800 billion) and Germany (1400 billion).
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On the most globalized sectors such as IT…
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