Philippines minister: China-US tensions harmful to Asian economies

If China-US tensions worsen, the two countries will buy fewer goods made in Asian countries, said Ivan John E. Uy, Philippines secretary of information and communications technology, at the 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum, in Tianjin on Tuesday.

It might seem that China-US conflict creates opportunities for Asian countries through investment movements, manufacturing transfers, decoupling and de-risking supply chains, Uy said.

But in fact, if tensions worsen, it is “not good for the region,” he said.

“When those products are made, where are you going to sell them if most economies on both sides of the ocean do not have the capacity to buy those goods?” he said.