US China trade war to benefit some Asian countries; India not one of them

Asia, at the broad level, will lose from the US-China trade war, but a few countries will emerge as relative winners.

Nomura Holdings Inc. found that a push by companies in the US and China for import substitution towards the rest of Asia will benefit Malaysia in particular, followed by Japan, Pakistan, Thailand and the Philippines, based on its analysis of specific products on the list of tariffs.

At the same time, Vietnam is the clear winner from companies switching production from China, followed by Malaysia, Singapore and India.

"As the saying goes, ‘when two quarrel, the third rejoices’,” analysts including Rob Subbaraman