As China battled a wave of COVID-19 flare-ups over the past few months with strict control measures, the widespread disruption of business operations fueled concerns over an accelerating exodus of manufacturing.
From October 2021 to March 2022, China lost around 5% of its textile export orders, 7% of its furniture and 2% of its mechanical and electrical export orders from the United States to the 10-member Association of Southeast Asian Nations (ASEAN), especially Vietnam, according to U.S. customs data.
