US businesses, economists highlight China's key role in supply chain amid coronavirus outbreak

Jake Parker, senior vice president of the US-China Business Council (USCBC), told reporters in a recent press conference that many companies have been trying to diversify their supply chain to reduce risks in the last few years, but this doesn't mean that they're "divesting" from China. "It means that they're increasing their investments in China to serve a local market. Also building new capacity outside of China to ensure regionalization of those supply chains and to lower the overall risk," said Parker, whose organization represents over 200 American companies that do business with China.