Huge panic is sweeping across China today, as a mass exodus of companies decide to leave. China’s persecution against Christians seems to be hurting their bottom line.
As China has refocused their attention to persecute Christians, the economy has been suffering greatly. Christianity and business have both been growing exponentially in China for several decades, but the increased persecution and lack of freedom for Christians reverberates throughout the nation, making investors feel uneasy.
Both political scientists and economists agree that religious liberties are essential to economic growth.
As China wages a relentless war against the church, major companies are taking notice and walking away. They do not plan to go back. It has started an ABC movement for companies (Anywhere But China).
Printer Giants Brother, Kyocera, and Fuji Xerox have left China and moved their production to Vietnam. Sharp is soon to follow.
Hasbro Inc., the world’s largest toymaker, which has licenses for popular franchises such as “Frozen” and the “Avengers”, is also embracing ABC and moving away from China. “We’re increasingly spreading our footprint and adding new geographies for production globally”, Chief Executive Officer Brian Goldner said on a conference call to discuss second-quarter earnings. “So we feel very good about where we’re going.”
Major electronics producers are also embracing ABC. Samsung moved all of their smartphone production out of China and now their PCs, laptops, and television production lines are following.
Japan is China’s second largest trading partner, but that might be changing. Japan just made an ABC contribution by offering 87 major companies massive subsidies, totaling over US $653 million, to move their production out of China. Japan is drawing up a second list of companies to encourage them to also leave China.
Donald Trump’s trade war has been imposing tariffs on goods made in China. Many companies that have been on the fence about leaving China are seeing massive benefits to moving their manufacturing to places like Thailand, Vietnam, Myanmar, Cambodia, etc to avoid American tariffs.
The trend is shaking China’s production complex.
BTJ has been working in production for two decades producing electronics, textiles, humanitarian supplies, etc for the mission field. We have seen the winds of ABC pick up and have moved some of our production to places like Cambodia and Vietnam.
The coronavirus revealed to the world how dangerous it was to rely on China as the genesis of their supply chain. When the coronavirus started to spread around the world, governments thought twice before criticizing China’s COVID-19 response; China is the go-to source for all the medical supplies that they needed, like medications, ibuprofen, hazmat suits, rubber gloves, surgical masks, ventilators, and even testing kits.
Chinese Christians are factory owners, business managers, bankers, fund managers, computer engineers, inventors, factory workers… and they are poised to help bring back production and jump start the economy in China again. Perhaps it is time that we learn the greatest lesson from the Communist Revolution – persecuting Christians does not make China stronger, it makes China weaker.