We are in a new 'ex-China world order' that will keep inflation higher, Chamath Palihapitiya says
— have started shifting their supply chains out of mainland China, due to both domestic and geopolitical risks. That marks a massive shift from the past few decades that saw increasing reliance on Chinese factories keep prices low.
For the US market, that means more production is heading to Canada, Mexico, or Central America, Palihapitiya said. Palihapitiya also noted that this move may give more power to laborers, as the shift away from Chinese manufacturing will create a bigger reliance on domestic workers. And to attract labor, wages will have to rise.
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