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China will lose leverage as some firms move elsewhere

Friday, November 25, 2022

Significance

Foxconn, Apple’s leading subcontractor for its iPhone line, manufactures about 70% of total global iPhone production and over 80% of the latest generation, the iPhone 14. The company has reportedly decided to move nearly half of that production volume from China to India.

Impacts

  • The partial departure of firms in this industry will work against for China’s ambitions in digital manufacturing.
  • Indian workers will require significant upskilling.
  • The shift from China to India will cause ripple effects throughout the entire complex industry ecosystem.

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