Who’d be a Chinese business?

Wednesday 9 April 2025

On the one hand, you’ve got a booming business marking up your products into the US economy by ludicrous multiples of your low cost slave labour workforce.

On the other hand, you’ve got Donald Trump taxing the living daylights out of your cost base at astonishing speed.

Then, as you prepare to make a deal by shifting your supply chains to America, you’re confronted with this. Bloomberg.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.