Over 40% of Americans said that they would boycott products made in China as a wave of economic nationalism sweeps over the world’s largest economies.
Likewise, 35% of Chinese consumers have signaled their intentions to boycott American made goods as a recrudescing trade war emerges out of the coronavirus global pandemic.
Another study found that 78% of respondents would be likelier to purchase a product which was from a company that had moved away from China–a trend witnessed in the Far East, with Japan paying manufacturing companies to relocate away from mainland China, back to Japan or elsewhere.
A whopping 55% of Americans believed that China could not be trusted in keeping their end of the bargain with a trade commitment requiring them to purchase American goods in the phase one trade deal.
The data was released by Deutsche Bank analysts as consumer trends gear towards nationalism out of the diplomatic distaste left behind by the two superpowers’ finger-wagging.
The South China Morning Post reported on the survey which made the unsurprising findings, suggesting that Trump’s sinophobic rhetoric may be behind the rise in Anti-China consumer skepticism.
Some analysts believe Trump may continue his hard-line stance against the oriental nation as the political climate heats up six months out from the upcoming 2020 US Presidential elections.
National File has been monitoring the upward trend of nationalist sentiment following the coronavirus lockdowns.
According to a Rasmussen poll, 70% of polled registered American voters expressly wanted some form of economic restriction on China following the way the country handled the outbreak of the coronavirus pandemic.
Japan earmarked $2bn USD to help manufacturing countries based in China to relocate back home, and a further $200 million for countries to relocate elsewhere as supply lines were hampered due to the first wave of government-imposed lockdowns in China.