Globalization Is Changing
Some Asian economies and Mexico are moving in as the U.S. moves away from China—most notably Vietnam, whose exports to the U.S. rose from less than $10 billion before 2007 to more than $120 billion in 2022. The Philippines, Taiwan, Thailand, India and Malaysia have also enjoyed rapid export growth to the U.S., while also increasing exports to China. Mexico’s annual exports to the U.S. have roughly doubled since 2008 to more than $400 billion, and they have increased to China, too.
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