These Are the Asian Countries That Benefit From the Trade War

Asia, at the broad level, will lose from the U.S.-China trade war, but a few countries will emerge as relative winners.

Nomura Holdings Inc. found that a push by companies in the U.S. and China for import substitution towards the rest of Asia will benefit Malaysia in particular, followed by Japan, Pakistan, Thailand and the Philippines, based on its analysis of specific products on the list of tariffs.