The Asian nation benefited hugely from closer global economic integration. That is now under threat.
South Korean Foreign Minister Park Jin, right, shakes hands with his Chinese counterpart Wang Yi prior to a meeting in Busan, South Korea, November 26, 2023. Credit: Ahn Young-joon via AP Photos
As 2023 comes to a close, relations between the United States and China are as fraught as ever. But what do tensions between the world’s leading superpowers mean for smaller actors?
The answer depends on the country, sector, and even firm. South Korean companies, for example, appear to be reaping significant benefits from U.S. trade and technology restrictions on China, which have at least slowed – and possibly even reversed – the “China-zation” of manufacturing and global value cha
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