The global economy is in another state of transition. After the pandemic, many countries realized they had become overly reliant on the Chinese economy. This chart from the Financial Times shows this is changing. Imports from Mexico now surpass imports from China, as a percentage of total imports, and imports from Canada are about equal. It is also a reminder that while far-flung trading partners get the most attention, America's economy is more closely tied to its neighbors.
Source: Financial Times
Allison Schrager is a senior fellow at the Manhattan Institute. Follow her on Twitter here.
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