Stand-out winners include Vietnam and the Vinasolar plant in Ho Chi Minh City, which has seen a surge in orders from Chinese companies. Photo: Cissy Zhou
Aidan Yao
Opinion

Opinion

Macroscope by Aidan Yao

The US-China trade war has produced more losers than winners

  • Vietnam is the stand-out winner, but even it has been hit by US tariffs for its large trade surplus
  • The rebalancing of trade and production means South Korea, Taiwan and Japan are seeing bigger demand from US – but an ever bigger drop from China

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Stand-out winners include Vietnam and the Vinasolar plant in Ho Chi Minh City, which has seen a surge in orders from Chinese companies. Photo: Cissy Zhou
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Aidan Yao

Aidan Yao

Aidan Yao is senior emerging Asia economist at AXA Investment Managers. Prior to joining AXA IM, he was a senior financial market analyst at the Hong Kong Monetary Authority for two years. He started his career at the Reserve Bank of New Zealand in 2007, serving as an economist and later senior financial market analyst until late 2011. He holds a master degree in finance (2006) and a bachelor degree in economics and finance (2005) from the University of Otago (NZ). He is also a chartered financial analyst.