FT: Chinese companies accelerating a purge of foreign components from their supply chains

The Financial Times is gated:

The US and China have worked hard to cobble together something positive from weekend tasks:

• China says Geneva trade talk meeting a first step; differences &frictions remain; win-win
• Agreed to agree about how to meet again

But the FT with the machinations taking place beneath the surface bonhomie.

• Chinese companies are accelerating a purge of foreign components from their supply chains

FT is gated, but the article cites financial filings the FT has reviewed showing more than 24 companies listed in Shanghai and Shenzhen have informed investors that they are stepping up efforts to use locally sourced inputs, domestic procurement, to replace foreign inputs.

This article was written by Eamonn Sheridan at www.forexlive.com.