The restructuring of global supply chains has caused a collapse in the Far East. Experts believe that the problem will not be resolved quickly and consumers will face shortages of goods and price rises.

The trade relationship between China and the US has been deteriorating, a trend that began during the Trump administration and has continued under Biden. While the EU has been more cautious in its approach, its patience with China’s trade practices is wearing thin, leading to potential further strain in the trade relationship between China and the West.