Shifting Supply Chains in Southeast Asia

New Zealand-China trade relations have seen significant growth, with China being the largest source of imports for New Zealand at $17.2 billion in 2023, benefiting Kiwi households and firms. China's involvement in green value chains, like solar photovoltaic exports and rare-earth minerals, plays a crucial role in decarbonization efforts. Globally, supply chains are undergoing restructuring due to geopolitical shifts, moving towards self-sufficiency and diversification, with Southeast Asia emerging as a key destination for firms looking to move production away from China and embrace 'China+1' strategies.