Could Vietnam become a casualty of the US-China trade war?
AS the US-China trade war hots up, and economists warn of shrinking GDP growth and disrupted supply chains, there are some markets that are reaping the benefits of the face-off. Vietnam, in particular, is expecting a major wave of industrial relocations from an increasingly expensive China. Manufacturers, including foreign multinational producers, have already begun to move certain high margin industrial operations to Vietnam. That’s been seen in the electronics sector, with big-name producers like Intel, Foxconn, LG, and Samsung recently relocating to Vietnam. Although the role the tariffs played in this move cannot be certain. This has been almost universally seen as a positive due to Vietnam being one of the region’s most trade-reliant countries. SEE ALSO: US-China Trade: Are we heading for the next cold war? Economists, investors and commentators have been predicting a Southeast Asia boom with Cambodia and Vietnam predominantly picking up the slack as companies get jittery in China. But there could be a flip side to mopping up some of China’s trade as, you’ve got to remember, it was that trade that got China in trouble in the first place. “The tariffs on China are there because of the trade deficit,” said Economist Intelligence Unit (EIU) economist Yue Su said on Tuesday. “These other countries that pick up the supply chain, their deficits will also go up and then they will face a trade war with the US.” US President Donald Trump (C) and Chinese President Xi Jinping (L) look on during dinner at the Mar-a-Lago estate in West Palm Beach, Florida, on April 6, 2017.Source: Jim Watson / AFP But its appeal has already garnered the country unwanted attention, both from sly manufacturers and the US. Back in May, the US slapped steep import duties on steel products from Vietnam after discovering manufacturers were diverting... If you wish to read this full breaking news headline, plus more articles from around Thailand and Asia like, Could Vietnam become a casualty of the US-China trade war?, simply click on 'Read full story' below, but 1st please give us a 'LIKE' or 'SHARE' before you leave. Thank you
Published By: ASIAN CORRESPONDENT - Tuesday, 30 October
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