🌎 Winners of the First Trade War May Not Be So Victorious
Bloomberg reports that stuck between the US and China, Southeast Asia’s challenges this time around are much greater.
📉The health of the relationship between the US and China has been viewed within Asia as an important gauge of America's appetite for sprawling supply chains — and where they are best located. The signs aren’t auspicious: The 10% hike in levies on imports from China alone is the biggest single increase under Trump. Overall, the effective average tariff moved up “modestly” to 2.8% in 2020 from 1.5% in 2016.
🇹🇭Thailand, an early manufacturing star, now has an anemic pace of growth.
🇲🇾Malaysia's expansion is respectable, but no world-beater.
🇸🇬Singapore had a good 2024, though growth was tempered in the final three months.
🇻🇳Vietnam, lauded as a rising power, is trying to streamline its bureaucracy and cut the size of government by 20%.
🇮🇩Indonesia isn't satisfied with 5% growth, but nurses unrealistic ambitions to lift that clip to 8%.
📊The greater import may not be what happens to individual countries or even specific industries, but the collateral damage to the standing of trade agreements and the ideas that underpinned them. Free, or relatively unchained, trade has taken a philosophical hit. This isn't the end of globalization, but it’s surely a new, tortured chapter.
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© Экономическое обозрение
© Иқтисодий шарҳ
© Economic Review
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Bloomberg reports that stuck between the US and China, Southeast Asia’s challenges this time around are much greater.
📉The health of the relationship between the US and China has been viewed within Asia as an important gauge of America's appetite for sprawling supply chains — and where they are best located. The signs aren’t auspicious: The 10% hike in levies on imports from China alone is the biggest single increase under Trump. Overall, the effective average tariff moved up “modestly” to 2.8% in 2020 from 1.5% in 2016.
🇹🇭Thailand, an early manufacturing star, now has an anemic pace of growth.
🇲🇾Malaysia's expansion is respectable, but no world-beater.
🇸🇬Singapore had a good 2024, though growth was tempered in the final three months.
🇻🇳Vietnam, lauded as a rising power, is trying to streamline its bureaucracy and cut the size of government by 20%.
🇮🇩Indonesia isn't satisfied with 5% growth, but nurses unrealistic ambitions to lift that clip to 8%.
📊The greater import may not be what happens to individual countries or even specific industries, but the collateral damage to the standing of trade agreements and the ideas that underpinned them. Free, or relatively unchained, trade has taken a philosophical hit. This isn't the end of globalization, but it’s surely a new, tortured chapter.
Read full:
⬇️⬇️⬇️
en review.uz/en/uc3
ru review.uz/uc3
More analytics
⬇️⬇️⬇️
© Экономическое обозрение
© Иқтисодий шарҳ
© Economic Review
telegram | facebook | twitter|linkedin