Chinese firms will keep going global

By Mike Bird, Asia business and finance editor, The Economist

AMONG WESTERN multinational firms, outsourcing has become a dirty word. Firms that once eagerly moved production abroad (especially to China) in order to reduce costs are keen to show they are committed to their home bases. But now the cheaply manufactured shoe is on the other foot. Chinese firms are the ones shifting their operations abroad, investing in new production facilities across the world. This trend will intensify in 2025.