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Since the start of the pandemic, many Western countries have discussed the need to diversify the supply chain to reduce their dependence on China. China is the world's largest exporter and for several decades, the rest of the world took advantage of its cheap labor and manufacturing industry. But China's image as the world's factory was damaged by its strict zero covid policies, slowing economic growth and an aging and shrinking population. And when we think of the country that could replace China as the world's factory, India is probably the most popular candidate. This is because it is the only country comparable to China in terms of population. In fact, in January 2023, India became the most populous country in the world. Additionally, its population is still young, so it is assumed that it can host many large-scale industries and thus replace China in the global supply chain. However, there are reasons to believe that India will not be able to replace China.
Some sources of interest:
- Bloomberg Originals. Is India the next China?
• Is India The Next China?
- Foreign Affairs. Why India Can’t Replace China
www.foreignaffairs.com/india/...
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