6 months Trade spat shifts business from ‘Factory of the World’ MB |Biz
By Jenny VAUGHAN HANOI (AFP) — From socks and sneakers to washing machines and watches, Asian countries are hoping the US-China trade war will permanently boost manufacturing as brands dodge the row by choosing cheaper locations to make their goods. Business has fanned out from China, often referred to as the “Factory of the World,” into Vietnam, Cambodia, India and Indonesia for years. But the shift has accelerated as the world’s two biggest economies slap tit-for-tat tariffs on each other. In the latest round of the bruising spat, US President Donald Trump this month raised tariffs to 25 percent on ... more