A survey by of 430 American companies by American business chambers in China reveals that about one-third are considering relocating outside China to avoid tariffs, with countries in Southeast Asia as their top destination. This followed a report from CIMB, which argues that Malaysia, Singapore and Thailand are particularly well placed to benefit from the displacement of demand for product categories in which it competes with China and US if their tit-for-tat tariff measures are implemented to the letter. That said, Nouriel Roubini, professor at New York University argues that trade war is a negative-sum game where everybody is a loser as the clash between two economic giants would trigger a global GDP growth slowdown.