Those economies are among the largest exporters of "intermediate goods" to China, which then assembles those pieces into finished products to ship to final destinations such as the U.S., noted Gareth Leather, senior Asia economist at Capital Economics.
Examples of "intermediate goods" include semiconductor chips and screens. Those components are typically manufactured in different locations across Asia before they're sent to China for assembly into products such as mobile phones and computers.
Both China and the U.S. have traded increasing threats to impose tariffs on each other's products. While the final list of affected goods is not yet known, J.P. Morgan analysts wrote in a note that electronic products would likely be included.
That means that if the various tariffs suggested by U.S. President Donald Trump come into effect and result in a fall in Chinese exports to the U.S., there will be knock-on effects for the rest of Asia.
"By its very nature, such products are highly reliant on tightly integrated supply chains. To that extent, this would propagate any trade shock into the region," the J.P. Morgan analysts said.
Such threats are coming at a time when emerging markets, including those in Asia, have been battered by capital outflows and have seen their currencies weaken in the process.