Global trade still growing and flowing – but is becoming more regionalised
Supply chains are becoming increasingly regionalised, particularly in Asia and Europe, while trade intensity is ...
Alibaba founder Jack Ma has called the trade war “the most stupid thing in this world”. While tensions rise, with an increasing expectation that the US will add more tariffs on Chinese exports next year, Mr Ma argued that in fact China was soon to become a major buyer of foreign products, as the services sector, rather than manufacturing, was now powering its job growth.
Not everyone, however, is set to suffer from the trade war. South-east Asian nations are feeling pretty upbeat. As logistics companies look set to expand their networks in the region, with Vietnam expected to be a particular beneficiary of new manufacturing established to beat the tariffs, 86% of companies in the region thought the global trade outlook was either “very” or “fairly” positive.