The president of the Macau Union Suppliers Association, Sunny Ip Sio Man, believes that a looming trade war between the U.S. and China will not have a big influence on Macau, according to a report by Macao Daily News.
Ip made the comment with a particular focus on US wine imports to Macau and other parts of Asia. In his words, American wine is still not common in Macau, which in turn diminishes the impact on the region’s importers.
According to Ip, US wine has only recently gained recognition and even though it has a reasonable reputation, its value is not high and is not very popular.
On the other hand, Ip thinks that dry fruit imported from the US will produce more complications than wine. Unlike dry fruit, wine importers will be able to search for substitutes of American wines among wine coming from other countries.
Ip, who is also the president of the Macao Federal Commercial Association of Wine and Food Industries in Portuguese-Speaking Countries and Regions, noted that the economic and trade activities between China and the Portuguese-speaking countries could fill the gaps left in the market, in the case China and the US impose heavier trade sanctions on one another.
Ip believes that China’s state strategy has made it easier for suppliers to find substitutes of US goods. He further predicts that Macau will excel as the platform between China and the Portuguese-
speaking countries.
Ip believes that the current China and US trade spat is only going to create a short-term pain to suppliers.
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