China’s had its microchips: its days as the world’s factory ‘are over’
Rising wages, Trump tariffs and rise of other markets mean production is spreading out, warns iPhone maker
The world’s biggest electronics manufacturer has called time on China as the centre of global production, saying the country’s days “as the world’s factory are done”.
Foxconn, the Taiwanese giant best known for assembling Apple’s iPhones, said it was moving more of its production out of China amid rising tariffs on goods made in the country.
Young Liu, the company’s chairperson, said that while China will be a major production hub, the country’s “days as the world’s factory are done”...