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Vietnam, Taiwan boost share of shipments to U.S. as China loses out

India, Cambodia also grow as 'low-cost' exporters, eroding Chinese dominance

An aerial view of containers and cargo vessels at China's Qingdao port in May last year.   © Reuters

China lost more of its share of U.S. imports from 14 low-cost countries and regions (LCCs) in Asia last year, a recent report showed, as companies continued to move manufacturing out of the world's second-largest economy.

In 2022, the Chinese mainland and Hong Kong accounted for a combined 50.7% of U.S. imports of manufactured goods from the 14 Asian LCCs. The number is down from 53.5% in 2021 and continues a downward trend that began in 2013, according to the annual Reshoring Index report by management consulting firm Kearney.

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