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The next ten years will see a seismic shift in the balance of power in global supply chains caused by the development of Chinese manufacturers from low cost suppliers of cheap goods for foreign original equipment manufacturers into global brands in their own right.

This shift has been largely prompted by the Chinese authorities who have encouraged companies to migrate up the value chain. This is sensible in an economic environment where inflationary pressures are making it increasingly difficult for Chinese manufacturers to compete on cost alone. WEF