NewzA second wave of economic disruption, dubbed "China shock 2.0," is currently underway as China assumes a global leadership role in the production of electric vehicles (EVs) and advanced manufacturing. This follows an earlier phenomenon that began in the 1990s, when an influx of inexpensive Chinese goods displaced lower-end manufacturing sectors worldwide.
Despite the implementation of international trade barriers, including tariffs and export controls, these measures have proven insufficient to halt China's growing industrial output and technological advancement.
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