COVID-19, trade war: Manufacturing shift to hit China, but will India gain?

In the midst of this long-term structural shift from China, India has dropped a few notches in the companies' preference to relocate manufacturing, while ASEAN countries have gained.

The sudden spurt in coronavirus (COVID-19) cases over the past few weeks across the globe has not only cast its shadow on global financial markets, but has also derailed economic activity in major countries, especially China, which was in the middle of a trade spat with the United States before the coronavirus’ outbreak. 

Most analysts have revised downward their global growth projections as measured by the gross domestic product (GDP) in this backdrop. A number of companies, they say, are now increasingly looking to diversify their manufacturing base out of China. 

A recent report by UBS says a number of respondents /