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China says April exports jump 14.1% from a year ago ahead of Trump-Xi summit AP NewsChina's Exports and Imports Set Records in April Amid High Energy Costs The New York TimesChina's Export Growth Accelerated in April WSJChinese Export Growth Rebounds as War Fails to Curb Trade Bloomberg.comChina April exports rebound strongly, trade surplus widens ahead of Trump visit
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China's Exports and Imports Set Records in April Amid High Energy Costs The New York TimesChinese Export Growth Rebounds as War Fails to Curb Trade Bloomberg.comChina April exports rebound strongly after sluggish March, trade surplus widens CNBCChina's exports jump 14% ahead of Xi Jinping-Donald Trump summit Financial Times
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China's exports jump 14% ahead of Xi Jinping-Donald Trump summit Financial TimesChina's Exports and Imports Set Records in April Amid High Energy Costs The New York TimesChinese Export Growth Rebounds as War Fails to Curb Trade Bloomberg.comChina April exports rebound strongly after sluggish March, trade surplus widens CNBC
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The economic banishment of all things Russian. Tariffs on Chinese imports. Pandemic-caused shortages of computer chips, bicycles, garage door parts and other imports. Brexit.
Just about everywhere you turn, you can see that the tectonic plates of the global economy have stopped converging and are starting to pull apart in ways that will determine new winners and losers, says Ethan Harris, head of global economics for Bank of America Securities. "Deglobalization is a gradual process, and in the long run, very important" to investors, he says, because it will have profound impacts on corporate profitability.
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Globalization refers to the increase of commerce across borders. U.S. companies prospered for decades as new markets opened for their goods and labor costs plummeted thanks to overseas production. Strategists at BofA have estimated that over the past 20 years, globalization has contributed more than half of what has been a robust expansion in profit margins. Globalization has also helped to deliver low-cost goods to American consumers.
But now, says market strategist Ed Yardeni, the pandemic and spreading political and military conflicts have stretched supply chains past the breaking point, prompting companies to bring many operations closer to home. "Deglobalization was almost inevitable," Yardeni says. U.S. companies are starting to "reshore" production back to the U.S., "near-shore" it to neighbors such as Mexico, or "friend-shore" it to allies such as Vietnam.
Investment firm Piper Sandler counted more than 900 announcements of companies either building or expanding manufacturing facilities in the U.S. in the 12 months ending in May of 2022. In 2012, there were only about 100 such announcements. Over the long term, companies
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