How China is rethinking export-led growth as global trade walls rise

Beijing’s recent call to balance trade and investment as part of a push for more sustainable growth reflects a gradual shift towards greater overseas localisation of Chinese supply chains, analysts said, as the country grapples with simmering frictions amid a record trade surplus. “Commercial authorities at all levels ... should guide the reasonable and orderly cross-border layout of industrial and supply chains, promote integrated development of trade and investment... and effectively...