LONDON : 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 said in an interview published on Saturday.
China was Britain's biggest source of imported goods in 2021, accounting for 13 per cent of the total, while it was the sixth-largest destination for goods exports, according to Britain's official trade statistics. Danker said growing U.S. concern about China had also made British companies more wary about being dependent on Chinese suppliers, and that going elsewhere was would be"more expensive and thus inflationary".
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