Blocking China’s path: The rise of ‘Made In Vietnam’
In the last of a 7-part BT-Lianhe Zaobao series on China and Asean, Lianhe Zaobao travelled to Vietnam for a closer look at its economic rise, and whether “Made in Vietnam” can replace “Made in China”
HEADLINES such as “Vietnam’s exports overtake Shenzhen” and “Is Vietnam the next China?” have drawn attention in China’s media and online forums, reflecting anxiety that Vietnam might usurp China’s position as the world’s factory.
Western media, meanwhile, have focused on how China’s zero-Covid policy has caused orders to be diverted to Vietnam. In a June report by German newspaper Frankfurter Allgemeine Zeitung with the eye-catching headline “Goodbye China, Hello Vietnam”, one manufacturer said: “Vietnam seems to be a better and cheaper China.”
In the second quarter of 2022, Vietnam’s exports rose 21 per cent year on year and economic growth hit an 11-year high of 7.7 per cent. The country has emerged from last year’s sl…
A NEWSLETTER FOR YOU
Asean Business
Business insights centering on South-east Asia's fast-growing economies.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Asean
Thai central bank says holding key rate steady creates ‘policy optionality’
Vietnam holds first gold auction in 11 years to stabilise market
8 in 10 firms in S-E Asia, Greater China positive about business environment: UOB survey
Thailand to replace military-appointed Senate, reduce its powers
Vietnam tech giant VNG seeks global push in gaming, AI cloud
Thailand’s 500 billion baht stimulus project gets Cabinet approval