Sino-US trade war | Taiwan became the second most severely affected area

The US-China trade war started on the 6th. In addition to the US and China themselves, as the global value chain is now tightly integrated, other countries and markets that provide raw materials and intermediate processes are also suffering. Patek Asset Management Corporation (Pictet) According to the World Trade Organization (WTO) global value chain participation data, the ten hardest hit areas under this trade war are listed, of which Taiwan ranks second, and the degree of creation is second only to Luxembourg.

On the whole, the common feature of these countries or regions is that they are mostly small in scale. Domestic demand is not enough to support the economic growth. Therefore, it is more dependent on exports, so that the international market is slightly swaying, especially in the US and China. Have a major impact on these countries.

1. Luxembourg Participation: 70.8%

Luxembourg's main industries include banks, information services, steel, etc. The per capita gross domestic product (GDP) is the second highest in the world, but it is highly dependent on trade, and therefore the highest risk in the trade war.

2. Taiwan Participation: 67.6%

Taiwan's capital and technology are intensive, with major exports including semiconductors, computers and plastics, and electronic components and semiconductor chips accounting for 40% of exports.

3. Slovakia Participation: 67.3%

Slovakia's service industry, heavy industry and agricultural strength is strong. Foreign trade is growing rapidly year by year, but after the trade war starts, the growth momentum may be turned off.

4. Hungary Participation: 65.1%

Hungarian agriculture, automotive, information technology (IT), electronics and chemicals are key industries, also export-oriented.

5. Czech Republic Participation: 64.7%

The Czech Republic's main trading partners are Germany and other EU countries, but its high-tech engineering is also inseparable from the global value chain.

6. South Korea Participation: 62.1%

South Korea is one of the most technologically advanced economies in the world, with motors, automobiles, steel and ships all sold overseas. US, China is its largest trading partner.

7. Singapore Participation: 61.6%

Singapore has always been regarded as one of the most open markets. Exports rely on electronic equipment, chemical products and financial services. The bilateral trade with China exceeds 100 billion US dollars annually.

8. Malaysia Participation: 60.4%

China is Malaysia's largest trading partner. Malaysia's main export commodities include tin, rubber and palm oil.

9. Iceland Participation: 59.3%

The market in Iceland is as small as it is easy to follow the market. The main exporting countries are the European Union, the United States and Japan.

10. Ireland Participation: 59.2%

Ireland's main economic activities are high-tech and banking services. It is regarded by many countries as the best place for foreign direct investment, and it is easy to fluctuate with the global situation.