Only one country stands out as a winner in the trade war so far—and it's not the U.S.
This week, a hedge fund manager sent me some thoughts from a CEO of a publicly traded American handbag and luggage brand. Because it was all off the record, I'll keep it simple. The CEO said they ended last year with 54% of their imports sourced in China. By the end of this year, it will be cut by more than half. Their top country for manufacturing now is Vietnam, followed by stitch-and-sew manufacturing clients in Myanmar and Cambodia, all rather quickly replacing China.
One of the countries that always comes out on top in all of this reshuffling is Vietnam. The country, once subject to the “domino theory” and a U.S.-versus-communism war that the U.S. lost , is the biggest beneficiary so far of a supply chain influx. No one else comes close. Pedestrians and traffic pass down a street which is decorated with national flags and banners celebrating the Communist Party in Hanoi. Vietnam has been the biggest beneficiary of the trade war in Asia.A full assessment of the trade-war effect on Asia, therefore, needs to consider Asian exports to both the U.S. and China, says Aidan Yao, the senior China economist for AXA Investment Managers, an $830 billion global asset manager.
Long-term winners may not be the same as the short-term gainers, but Vietnam stands out among them all, based on data compiled by Yao in a report for clients this week.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Trump ready for tariff truce with ChinaThe halt to more duties is said to have been a condition before China agreed to a meeting in Osaka.
Consulte Mais informação »
Rerun: Last TV plant in U.S. again faces tariff extinctionAmerica's trade war with China is once again poised to switch off the natio...
Consulte Mais informação »
Chinese consumer boycott of American goods is new reality in trade war
Consulte Mais informação »
Trump Trade War: The Real Impact On The EconomyThe latest in the year-old trade war as it affects the market, businesses, consumers and more.
Consulte Mais informação »
Stocks are jumping as traders see 'light at the end of the trade-war tunnel''The truce cake seems to have been baked,” the South China Morning Post reported.
Consulte Mais informação »
Trump faces trade war negotiations during consequential G20 meetingsIt's a sign of Trump's continued capacity to mold the world agenda that this year's G20 summit represents a confluence of global crises that are all, to some measure, manufactured by him | Analysis by kevinliptakcnn
Consulte Mais informação »