Leaving China... IMF top official warns..!?

Sowmiya Sriram
Leaving China... IMF top official warns..!?

As the international economic market is unstable, it is expected that many countries, including the United States, will be pushed into recession in the next 6-9 months. In this situation, international companies that have left china due to the crisis in Western countries are shifting their production base to other countries. In particular, it is moving to South east Asian countries like india and Bangladesh. In such a situation, a top official of the IMF has warned that there will be a serious impact by leaving China.
As china dominates the global supply chain, China's decline in productivity and volume will have huge impacts and costs, the IMF said. krishna Srinivasan, head of the Asia and Pacific Division of the IMF, said that however, at the end of the day, what we have to look at is profit and loss. As it is, china dominates the global supply chain, and there is some good in it, he said.
Why are many American and european companies moving their manufacturing base from china to other countries..? When asked what the impact will be, IMF's krishna Srinivasan said that China's production and trade are not only for Asian countries but for the entire world.
In this situation, he said that the changes in this matter will have a big impact on the international economy, so he has to think seriously and make a decision.Similarly, china is currently stuck in the zero covid policy and not only the country's a trade and economy are affected, but there are also problems in the international market such as a shortage of goods and rising prices. Thus china needs to exit the zero covid policy quickly and safely at the same time.
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