Evergrande and energy shortages are shaking China’s economy. Here are the most exposed countries.

Evergrande and energy shortages are shaking China’s economy. Here are the most exposed countries.

The Chinese government is tightening regulations on property and pollution and it's shaking the country's economy. Rules limiting debt in the property sector have been a key factor in the looming default of giant developer . And crackdowns on pollution have led to reductions in coal production, worsening an and power shortages. In a note this week, analysts at Morgan Stanley weighed up which countries are likely to be most impacted by a slowdown in the world's second-biggest economy and largest trading nation. "With a global trade share of 13.6%, changes in demand of the world's second-largest economy will reverberate through the global supply chain," the analysts, led by chief global economist Seth Carpenter, said. The most-exposed economies are in Asia, Morgan Stanley said. They're followed by countries that are key commodities suppliers such as Russia, as well as European Union countries who are closely linked through global trade. "The US ranks as one of the least exposed economies in our analysis," the analysts wrote. Close neighbours South Korea and Taiwan are likely to be hit hardest by any slowdown in China, with Asia's economy suffering as a whole from lower Chinese demand and production disruptions. Morgan Stanley thinks China's