Taiwan recognized as biggest winner by the UN in China-US trade war
We have kept saying how the US-China trade war is bad for the economy of both countries. Well, we do acknowledge the fact that China exports much more to the US compared to the US exports to China. Therefore, it is obvious that China would have a bigger impact but still the difference would be minor. On the other hand, we have also wondered about the countries in best position to take advantage of the US-China trade war. Everyone kept saying that India would emerge as the biggest winner out of the US-China trade war. However, the reality is different as shown in a report by the United Nations.
According to this report by the UN, it shows which countries emerged as beneficial due to the US-China trade war. And surprising no one but still worthy of praise, Taiwan emerged out to be the biggest winner. Yes, Taiwan denoted as the “Taiwan Province of China” in the report is shown to have the biggest advantage of imports thanks to the trade war. After Taiwan, Mexico and the European Union have also been advantageous. However, the country which was expected to be the biggest winner out of this trade war, India, managed to be on just the eighth position in this list.
India was behind countries such as Vietnam, Japan, Republic of Korea and Canada in positions 4 to 7 respectively. As per the official data mentioned in the report, Taiwan’s exports to the US increased by US$4.2 billion in the first half of 2019. However, the report from UN mentions Taiwan as a separate country but it is still represented as “Taiwan Province of China” which has triggered many. Some mention that this is the UN’s lip service to China as it is the second-largest contributor of cash which is about 12% of the organization’s total funding.