Geopolitical Tensions Prompt 35% of Importers to Reevaluate Supply Chains
🚢 Geopolitical Tensions Prompt 35% of Importers to Reevaluate Supply Chains.
A recent survey by the Institute of Directors (IoD) reveals that over a third of U.K. importers (35%) have been impacted by escalating geopolitical tensions, primarily related to China, prompting them to reassess their supply chains. The report, titled "Reorienting: The Impact of Geopolitics on Business Supply Chains," indicates that 20% of importers from outside the U.K. have already altered their supply chains due to such tensions, and 15% are considering making changes. While larger companies (53% of those with 250+ employees) have felt a more pronounced effect, 31% of SMEs have also responded to these pressures. The majority (58.4%) of importers reported that their supply chains remain unaffected by recent geopolitical tensions, but the survey suggests a shifting attitude toward global trade in the face of geopolitical uncertainties, notably concerning China's relations with the U.S., Russia, and Taiwan.
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