The winners and losers from China's rise

China has come to play a key role as an assembly hub at the centre of increasingly sophisticated supply chain networks. For the rest of Asia, the main winners from this process have been those countries that have been able to integrate themselves into these trade networks. However, China has become much more than just an assembly hub. Over the past decade it has been steadily moving up the value chain. As this trend continues, countries ahead of China such as Japan, Korea and Taiwan will come under increased pressure.