Daily Management Review

To Shift Supply China From China, 'Like-Minded' Democracies Sought By US And Taiwan


To Shift Supply China From China, 'Like-Minded' Democracies Sought By US And Taiwan
With the United States looking to reduce its economic reliance on China and to shift away global supply chains from China, the US along with Taiwan are looking out for "like-minded" democracies to join the effort of the shift of supply chains whose vulnerability due to placement in China was revealed during the novel coronavirus pandemic.
This was announced by the US and Taiwan on Friday.
In order to re-balance US economic ties with China, a number of actions are being taken by the Trump administration of the US which includes executive orders intended to production of crucial products in the country and making use of the  "buy America" requirements and provide incentives to coax American companies to strengthen their domestic supply chains. 
These efforts have been described by China as an attempt at "decoupling" the two largest economies of the world which will never succeed.
Everyone in the room was connected by their shared values, such as freedom of the press and religion, said de facto US ambassador in Taiwan Brent Christensen while speaking in front of his Japanese, European Union and Canadian counterparts and Taiwan's foreign minister and the visiting Czech Senate speaker.
"These are the shared values that will inform how we reinvent the supply chains of the future," Christensen said. "Helping economies, sectors and companies build out secure supply chains will require a coordinated effort from all of us."
Taiwanese companies have also been urged to bring their businesses back home from China or to move their production units pout of China to somewhere else. China claims Taiwan as its own territory.
Since the pandemic, countries have been wondering what would of the key industries of their countries were controlled by "another country that does not honour the values of rule of law, freedom, democracy and transparency", said Foreign Minister Joseph Wu, taking an indirect swipe at China.
"Going forward, we will work with like-minded partners to establish reciprocal industrial ties that lead to joint prosperity, instead of coercion, exploitation and expansionism," Wu said. "I see tremendous potential for closer cooperation between Taiwan and like-minded democracies, from Europe, Asia and North America."
In recent months, support for Taiwan has been stepped up by the US which has angered China. However the US still does not have any formal diplomatic ties with Taiwan, just like most other countries of the world.