Diversifying supply chains from China ‘probably good for everyone’ -World Bank chief

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World Bank President David Malpass attends the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 3, 2021. REUTERS/Yves Herman

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April 12 (Reuters) – Countries around the world are working to diversify their supply chains and reduce their dependence on China, which is “probably good for everyone,” World Bank President David Malpass said on Tuesday.

Malpass said cross-border trade would remain important to the global economy, and China – already the world’s second largest economy and likely to become the largest – had a big role to play as both a consumer and producer of goods.

But, speaking at an event in Warsaw, he said China also needed to be part of a value system shared by other countries in the global trading system, and added, “I don’t know that that will happen.”

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