The US-China trade war started on
July 6th. In addition to the US and China both were affected by trade war,
other countries and markets that provided raw materials and intermediate
manufacturing processes were also affected as the global value chain was now
tightly integrated.
Pictet Asset Management in London had listed the top ten hardest hit economies
under this trade war based on the participation rate in global value chains
released by WTO. Among them, Luxembourg ranked first in the top ten hardest hit
economies by trade war, and Taiwan ranked second.
Here were the top ten hardest hit economies under this trade war: Luxembourg
(participation rate: 70.8%), Taiwan (participation rate: 67.6%), Slovakia
(participation rate: 67.3%), Hungary (participation rate: 65.1%), Czech
Republic (participation rate: 64.7%), South Korea (participation rate: 62.1%),
Singapore (participation rate: 61.6%), Malaysia (participation rate: 60.4%),
Iceland (participation rate: 59.3%), and Ireland (participation rate: 59.2%).
Source: yieh