Collateral losses for third countries and increase in inflation resulting from the trade war between the United States and China. International economy

The impact on third countries of a trade war between the United States and China will be greater than the direct consequences that the two most powerful economies in the world will suffer. The risks arise from rising prices in the real economy, with shocks to the Asian economies badociated with the global supply chain.

Financial badysts point out that US tariffs on Chinese products and Beijing retaliation will boost global economic inflation by 0.1 to 0.3 percentage point. According to investment firm Pictet Asset Management, a 10% increase in US trade could lead to a stagnation of the global economy and a 2.5% reduction in international business profitability

, the economies of South Korea, Malaysia, Taiwan and Singapore are particularly exposed to the global supply chain. According to DBS Bank calculations in Singapore, the growth of the South Korean economy will slow by 0.4% in 2018 and by 0.6% in the Malaysian and Thai economies. It is estimated that growth will stop in Singapore at 0.8%. These impacts are estimated to be twice as high in 2019. In a more vulnerable position, Malaysia's manufacturing economy can also be found, compared to the Hong Kong economy

although the states United States and China are Hong Kong's main trading partners, its economy is based on the provision of non-tariff services. Another dimension of the indirect effects of the trade war between the United States and China is presented by the Institute of International Economic Peterson. Nearly two-thirds of US imports into China come from foreign-owned companies.

Daimler, Mercedes' mother, warned last month that its profitability would be affected because it exports part of its production from the United States to China.

Although it was the first foreign company to protest the effects of the trade war between the United States and China, it is not the only one. Problems can also arise for the financial sector. The uncertainty surrounding global trade will force banks and investment firms to review their exposure to specific sectors such as the agricultural sector or the auto industry. Respect for new investments will also be a commercial activity, while consumers may be reluctant to increase due to rising prices