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Insight 2019/2020

Insight 2019/2020 - EP43

Vietnam: The New China?
45 Min

By CNA Published: 19 Mar 2020 Audio: English

As two of the world's biggest economies, China and the US are sparring over trade tariffs, one country that has emerged as the biggest beneficiary from the trade conflict is Vietnam. Its economy has grown by almost 8 per cent because of the shift in production from overseas as it attempts to escape the heavy tariffs from the US. Vietnam's exports to the US have also jumped by 34.8 per cent in the first nine months of 2019. But the growing trade deficits between the US and Vietnam have now caught the attention of the Trump administration. It has now started to impose selective tariff measures on exports coming from Vietnam. Vietnam today has also been grappling with the increasing spread and adverse impact of the COVID-19 outbreak. How much will these two factors affect Vietnam's economic rise ? Will it still be able to replicate China's economic success and emerge as a new powerhouse in the region ?

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Insight 2019/2020
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