DOT Desk: The ongoing trade war between US and China will benefit Bangladesh in terms of more exports to the country, says the Asian Development Bank (ADB), reports Bangla Tribune.
Bangladesh’s exports will increase by $400 million and the Gross Domestic Product (GDP) by 0.19% by next one to two years if the trade conflicts escalate, ADB chief economist Yasuyuki Sawada said.
Under the current scenario, China’s export to US will go down as it will lose competitiveness and the supply chain will be affected, he said in Dhaka on Monday (Mar 6).
Addressing a seminar titled ‘Impact of Emerging International Trade Relations on Bangladesh’, Sawada said, “…China to lose business of $126.4 billion and GDP can go down by 1.03%, while Bangladesh exports to increase by $400 million and the GDP to grow by 0.19%.”
The visiting chief economist of the multi-lateral lender said the US is planning to impose 25% tariff on $200 billion imports from the China, while China is considering trade measures on $100 billion imports from the US.
Given the current standoff between the two counties, China’s export to US will go down and it will lose competitiveness while the supply chain will also be affected, said Sawada.