Multinationals plan moves to minimise China risk, ECB survey shows

Savoring Success with Taste Nova Scotia Culinary Ambassador Amy Savoury | SaltWireFRANKFURT - More than 40% of multinational firms surveyed by the European Central Bank expect to move production to politically friendlier countries in the coming years, with risk related to China cited as the main concern, a paper showed on Monday.

Seeking on-the-ground confirmation, the ECB surveyed 65 very large firms with a global footprint and 49% said they were looking to"near-shore", or bring production closer to the point of sales."As to those countries which posed – or could pose – a risk to supply chains in their sector more generally, two-thirds of all respondents cited China," the ECB said in an Economic Bulletin article.

"A large majority of these identified China as that country, or one of those countries, with all of them considering this an elevated risk," the ECB added.

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