The coronavirus is driving consumer nationalism in China and the US. Photo: AFP
SCMP: Coronavirus: China, US consumers turn on each other’s goods as pandemic drives commercial nationalism
* Deutsche Bank survey shows 41 per cent of Americans will not buy ‘Made in China’ products again, while 35 per cent of Chinese will avoid US goods
* Trump’s election-year broadsides and China’s assertive diplomacy boost distrust between the two powers
The coronavirus pandemic is fuelling mistrust among consumers in China and the United States about each country’s products, as the momentum for a decoupling between the two world’s largest economies intensifies.
A recent survey by Deutsche Bank’s big data platform dbDIG showed 41 per cent of Americans would not buy a “Made in China” product again and 35 per cent of Chinese would avoid buying products “Made in USA”.
Even though most consumers were not ready to completely shun each other’s goods, the survey results indicate a rise in commercial nationalism
and a growing distaste for globalisation, as both economies emerge from the coronavirus crisis, said Apjit Walia, an analyst at Deutsche Bank.
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WNU Editor: I am surprised that these percentages are not higher.
