Hey all - I published an article on supply chains and inflation through my Substack. From the excerpt below:

"Then again, the China of 20 years ago is no longer. While not technically a developed nation per MSCI and other ratings agencies, it’s clear that China’s demography has evolved to resemble that of a “developed economy” — supported by rising consumption, a burgeoning middle class and consequently, rising wages. Rising wages are inherently good, but become regressive when confronted with a shrinking labor force stemming from an aging population.

All things considered, the Chinese market simply does not offer the competitive advantages it once did, given the risks and costs involved. The currency markets appear to be reflecting this new reality — the strength of the renminbi versus competing currencies like the Yen and Won have highlighted the emerging advantage of neighboring exports."

Thanks for reading!

Tom