UK businesses turning away from China | The Express Tribune

UK businesses turning away from China | The Express Tribune

 

LONDON:

British businesses are cutting ties with China amid fears of political tensions, a move that is likely to pressure inflation, the head of the Confederation of British Industry (CBI) ) said in an interview published Saturday.

‘Every company I speak to right now is committed to redesigning its supply chain … because it predicts that our politicians will inevitably accelerate towards a separate world. out of China,” CBI chief executive Tony Danker is quoted as saying by the Financial Times.

China is the UK’s largest source of goods imports in 2021, accounting for 13% of the total, when the country Britain is the sixth-largest commodity export destination, however, concerns about Britain’s security have grown in recent years, fueled by disagreements with China over Hong Kong and other issues.

heads of the UK’s foreign intelligence agency said that China is now his top priority, before fighting against terrorism.

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