China’s dominance as the world’s factory will not end any time soon, but companies are increasingly looking to diversify supply chains in the wake of snarl-ups caused by Covid-19 and Beijing’s trade tensions with the US.

Rodolphe Saade, chief executive of France’s CMA CGM, told the Financial Times in March that US companies are beginning to cut their reliance on Chinese supply chains.

“We have clients telling us they do not want to put all their eggs in one basket in China, so they are looking for other solutions,” he told the UK financial daily.