Observing that China has been a very important player in global supply chains, a top International Monetary Fund (IFM) official on Tuesday said that anything which undermines this process of efficiency and productivity will have its costs.
"At the end of the day, we have to think in terms of efficiency, gain, and losses. China has been a very important player in global supply chains, and for good reasons," Krishna Srinivasan, IMF director of the Asia and Pacific department, told PTI in an interview.
Srinivasan was responding to a question on the move by companies in the US and Europe to shift their manufacturing base to other countries of the world.
"Anything you go for something driven by non-economic considerations, say sourcing goods from a friend-country you risk undermining efficiency. So, one has to think of this in a very objective way," Srinivasan said. (PTI)
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