Who benefits in the US-China trade war?

Avatar of Nick John By Nick John Dec15,2023 #benefits #China
Who benefits in the US-China trade war? 2
Who benefits in the US-China trade war? 2

According to recently published survey results by AmCham China and AmCham Shanghai, about one-third of more than 430 companies in China are considering or have moved production abroad due to US-China tensions.

Phu Tai is one of the companies that is benefiting from this.

Container ship at Keppel port in Singapore.

“We see this as a great opportunity to increase exports to the US, as we are receiving more and more orders from this market,” he said in an interview earlier this month with Bloomberg, “In the context of

ASEAN is a magnet for attracting new factories, thanks to low production costs and solid growth rates with the five largest economies having an average GDP increase of 5.3% per year.

The Hong Kong Trade Development Council has recognized the influence of Southeast Asia.

Surveys of manufacturer confidence around the world show that they are concerned about the negative impact of the import tariffs that the US and China have imposed on each other since July. Yesterday, the US announced the imposition of additional tariffs.

Southeast Asia depends heavily on trade.

Nguyen Thanh Phuong – General Director of Kangaroo household appliance manufacturer predicts that sales revenue to the US will increase 10% in the second half of this year.

Koratak Weeradaecha – Chief Financial Officer of Star Microelectronics Thailand also noticed a change in orders, following the development of trade tensions.

“Orders are coming from companies that have moved production here, helping to boost the supply chain in Thailand,” Kotarak said. “We think that many companies will think about moving factories to other countries.

In Thailand, not only electronics manufacturers benefit.

The Thai government believes that the seafood industry will flourish during US-China tensions, because it is on the list of tariffs imposed by both the US and China.

Thanks to its ability to provide substitutes, Thailand is now one of the world’s best places for companies to seek opportunities in turbulent times, according to a July report by Krungsri Securities.

Similarly, in Malaysia, Finance Minister Lim Guan Eng said last week that “we have received so many inquiries that our biggest problem right now is expanding production capacity,” in both electronics and electronics.

Courier Kerry Logistics Network is also seeing `increasing numbers` as more companies shift distribution centers from China to Hong Kong, Taiwan and Southeast Asia.

In an interview last week with Bloomberg, Prime Minister Nguyen Xuan Phuc also affirmed that Vietnam `has more opportunities than challenges` from US-China trade tensions.

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