A recent survey by the American Chamber of Commerce in China showed that 18.5% of U.S. companies in China are planning to relocate or had already moved their manufacturing facilities to Southeast Asia as a result of high import tariffs that the U.S. and China are slapping on each other's products.
Citing a recent survey by AmCham China and AmCham Shanghai, South-east Asia emerged as the top destination for US firms seeking to relocate their production sites abroad. The survey polled 430 American firms in China, of which around one-third have either moved or are considering moving their production out of China.
In many states, people are being rather friendly towards China. According to the American Chamber of Commerce in China, even in face of the trade war, the majority of US companies in China remain upbeat and one third of them plan to increase their investment in the country.
As a trade war between the US and China deepens, the 10-country Asean has benefited from its fallout as companies shift orders and move production bases to the region. It was the top destination among the one-third of more than 430 American companies in China that considered moving operations elsewhere, according to a survey by AmCham China and AmCham...