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Vietnam: "Who said that I am profitable? I am suffering from the United States!"
The United States not only launched a trade war against China, but also launched a trade war against many countries. The risks and uncertainties in the operation of the world economy have risen significantly. The "purified land" of Southeast Asia, which seems to have no competition with the United States, has been affected by the Sino-US trade war without exception.
However, at the beginning of the trade war, some Southeast Asian countries have misjudged the impact of the trade war, and believe that it is not good or bad for them.
Articles published by the media in Thailand, Vietnam, and Malaysia are even optimistic that the Sino-US trade war will bring opportunities for their trade exports and investment attraction. This recognition is related to the fact that in recent years, as China's production costs have increased, some multinational companies have shifted their production in China to Southeast Asian countries.
The transfer of some multinational companies and Chinese companies to Southeast Asia has indeed increased foreign investment in Southeast Asian countries such as Vietnam, Cambodia, Thailand and Malaysia, and promoted the development of manufacturing. From the perspective of China, the accelerated development of neighboring countries is what China hopes. China has proposed to jointly build the "One Belt, One Road" initiative, with the aim of mobilizing more resources, allowing more countries and regions to integrate into economic globalization, and jointly embarking on a mutually beneficial and win-win road.
With the escalation of the Sino-US trade war, the impact of the trade war began to appear. According to information released by the Office of Trade Policy and Strategy of the Ministry of Commerce of Thailand, Thailand’s total export trade in June 2019 was approximately US$21.4 billion, and exports fell by 2.15%, mainly due to the continued trade dispute between China and the United States, and the impact of Thailand’s export industry, especially The number one electronic product among the top 10 export commodities in Thailand, almost every commodity (including computer components) fell by 15.5%, and the output of integrated circuit boards even dropped by 20.6%.
Anu, the dean of the School of Economics at Ranshi University in Thailand, believes that the trade war has already had an impact on world trade and supply chains, and will definitely have an impact on Thai exports. The Thai Kaitai Research Center revealed that due to the worse-than-expected economic situation this year, this year's economic growth is expected to be only 2.9-3.3% or 3.1% (the original growth target is 3.7%), which is predicted by 2020, caused by Sino-US trade friction. The impact will exceed 0.6% of GDP. The new Thai government is further studying the impact of the trade war on Thailand.
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