A view of Canary Wharf business district in London, Britain, October 14, 2020. REUTERS/Matthew Childs
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LONDON, July 30 (Reuters) – British businesses are cutting ties with China due to concerns about political tensions, a shift that is likely to stoke inflationary pressures, the head of the Confederation of British Industry (CBI) said in an interview published on Saturday .
“Every company that I speak to at the moment is engaged in rethinking their supply chains … because they anticipate that our politicians will inevitably accelerate towards a decoupled world from China,” CBI Director-General Tony Danker was quoted as telling the Financial Times newspapers.
China was Britain’s biggest source of imported goods in 2021, accounting for 13{2bf522bcdc8ba51159d5205fc2be549bd4c5028a3d44797ff18fd67e8b5848d5} of the total, while it was the sixth-largest destination for goods exports, according to Britain’s official trade statistics.
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The Senate Committee on Small Business and Entrepreneurship has made history in the 111th Congress as the primary full committee in the U.S. Senate or the U.S House of Representatives to be lead by two feminine lawmakers. Senator Snowe considers it a distinguished honor to be the Ranking Member of the Small Business Committee throughout this historic moment, as we have a unique opportunity to ensure that girls entrepreneurs actually have a voice on the highest level.