According to the Philippine “Star” report on October 9, the well-known Philippine think tank “Integrated Development Studies Center” (IDSI) recently published a research report stating that the recent intensifying Sino-US trade war will become a mid-term event, and some in China Foreign-invested enterprises may flow into countries such as the Philippines, and the Philippine economy may benefit from this.
The report stated that the United States emphasized that the U.S. trade deficit with China is nearly 400 billion U.S. dollars, and more than half of it is formed by European and American companies in China. These foreign-funded companies are likely to move their factories to countries in Southeast Asia and other countries adjacent to China. In fact, manufacturers of clothing, shoes, clothing and hats have begun relocating their Chinese factories to the Philippines.
The report also reminds the Philippine government that although the Philippines may benefit from the trade war, the China trade war has greatly increased global economic uncertainty. The Philippine government should carefully assess this systemic risk and prepare for response in advance. (Title: The Philippine garment industry may benefit from the Sino-US trade war)
