via Reuters,
- Vietnam and Japan most exposed to credit impact of a potential Korea conflict
- Impact on Korean and global growth of a conflict would put downward pressure on energy demand.
- With Vietnam, loss of exports to South Korea and supply chain disruptions would weaken their credit profile
- If conflict led to sustained capital flows away from higher-risk emerging markets, liquidity risk would increase
- Broader implications for the US and China would be relatively limited
(bolding mine)
