The European Union is set to be the biggest winner of the trade war that has raged between the United States and China since last year, according to a new study by the United Nations Conference on Trade and Development.
The United Nations organisation estimated that European companies are likely to capture about US$70 billion in trade – about US$50 billion in Chinese exports and US$20 billion in US exports – that have traditionally passed between the world’s two largest economies.
Countries that are likely to benefit the most from trade tensions are those which are more competitive and have the economic capacity to replace US and Chinese firms, the United Nations Conference on Trade and Development (UNCTAD) said.
GO Long Dax and short Dow 30.
The United Nations organisation estimated that European companies are likely to capture about US$70 billion in trade – about US$50 billion in Chinese exports and US$20 billion in US exports – that have traditionally passed between the world’s two largest economies.
Countries that are likely to benefit the most from trade tensions are those which are more competitive and have the economic capacity to replace US and Chinese firms, the United Nations Conference on Trade and Development (UNCTAD) said.
GO Long Dax and short Dow 30.