Diversification away from China concentrated in key sectors, countries, report finds

U.S. companies are pivoting their manufacturing and sourcing operations away from China, but diversification has been uneven across industries and highly concentrated in certain countries, putting it at risk of stalling, according to a new report from a prominent industry group. “In the aggregate, diversification from China is underway,” says the report from Rhodium Group, a China-focused independent research firm, commissioned by Business Roundtable, an association of chief executives of U.S. companies. Efforts have “so far centered on just a...