An escalation of the trade war between Japan and South Korea will have a greater ripple effect than is priced in markets, as it could disrupt the technology supply chain starting with China, S&P Global Ratings warns. While there may be isolated winners in the stock market, an ongoing dispute will have global implications, boosting production costs for technology components or cutting output, said Shaun Roache, the chief economist Asia-Pacific at S&P Global Ratings. If Japan were to stop granting export licenses, South Korea would have to either curtail production or pay a “much higher price” to secure crucial ... (full story)