In a recent interview with CGTN’s Michael Wang, Benjamin Hung, Standard Chartered’s President, International, highlighted the unparalleled success of the supply chain provided by the Chinese mainland. Hung emphasized that finding an alternative to China’s supply chain is a significant challenge due to its efficiency and scale.
“China’s supply chain has been remarkably successful,” Hung stated. “Its integration into the global economy and the infrastructure supporting it make it difficult to find a comparable alternative elsewhere.”
Hung’s comments come amidst global discussions on supply chain diversification in response to geopolitical tensions and disruptions caused by the COVID-19 pandemic. While some businesses are exploring options in other regions, Hung believes that the Chinese mainland remains indispensable for global trade and manufacturing.
He acknowledged that while other countries are making strides in developing their supply chains, the Chinese mainland’s established networks, skilled workforce, and technological advancements set it apart.
“The sheer scale and sophistication of China’s supply chain ecosystem are unmatched,” Hung added. “Companies worldwide continue to rely on China for its reliability and capacity.”
Hung’s insights reflect the views of many in the international business community who recognize the critical role the Chinese mainland plays in global supply chains. As economies recover and adapt to new challenges, China’s position as a supply chain leader appears steadfast.
Reference(s):
Hard to find supply chain alternative to China: Standard Chartered
cgtn.com
