China Decoupling Leads To High Global Inflation - Ex Minister

Decoupling from China will push global inflation higher and risks sparking a widespread recession, according to Yi Xiaozhun, former vice minister of the Ministry of Commerce and former deputy director general of the WTO. Yi said global cooperation on climate change and public health had become more difficult as the trading system had become more fragmented due to the pandemic and rising geopolitics. Liu said no country can establish a fully domestic supply chain, with China and the U.S. being no exception. Multinational companies are inseparable from China and building a new value chain without Beijing would be very difficult. (Source: 21st Century Herald).