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How China Could Dodge the Fallout From a Trade War With Trump

  • Majority of biggest China exporters to U.S. are Taiwan owned
  • Diverse ownership means China not as assailable as 1980s Japan
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What Trump's Trade War with China Would Look Like

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The collateral damage from any U.S.-China trade fight would likely spread far beyond the markets of Asia’s largest economy, according to Nomura Holdings Inc.

Among the top 25 exporters from China to the U.S., more than 80 percent are owned by companies outside the mainland, according to a study by the Tokyo-based bank. While some manufacturing stocks face greater risk, the diversity of ownership means China itself isn’t as vulnerable as Japan was in the 1980s, when most of its big exporters were Japanese and Washington imposed curbs similar to those now being flagged by President Donald Trump, Nomura says.