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War-driven energy crisis boosts China's sales pitch for renewable tech The Washington PostThis Is Not China's War, but Beijing Started Preparing for It Years Ago The New York TimesHow China can survive without the Strait of Hormuz ReutersChina's electric truck revolution: powerful painkiller for the Iran war? South China Morning Post
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The anchor joined the show's cast on Monday for the first time since the disappearance of her 84-year-old mother, Nancy, who remains missing.
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Ukraine outshoots Russia in cross-border drone war for 1st time, March data suggests ABC NewsRussian drones kill mother, 2-year-old daughter in Ukraine's Odesa ReutersA Russian attack kills 3 in Odesa while Ukraine targets Russian oil infrastructure, officials say AP NewsUkraine war briefing: Russia responds to Zelenskyy's Easter truce offer with drone attack The Guardian
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Deal backlogs and stricter quality controls are pushing some tech firms back to mainland Chinese listings
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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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