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Trump’s tariff threat exposes China’s tight grip on the global pharmaceuticals industry
Trump’s tariff threat exposes China’s tight grip on the global pharmaceuticals industry
Chinese manufacturers have also benefited from Beijing’s policy incentives and subsidies for the pharmaceutical sector since the early 2000s, which led to industry clusters springing up in the country, said Qingpeng Zhang, an associate professor at the University of Hong Kong’s LKS Faculty of Medicine. The Indian companies then “bought the API for a lesser cost from China and focused their money and their capacity in India on building competence for developing more complex finished formulations,” Thakur said. In 2015, Chinese leader Xi Jinping unveiled his signature “Made in China 2025” industrial strategy, which identified biopharma and advanced medical products as key sectors for development in its broader push to reduce the country’s reliance on foreign technology.
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