How is Vietnam set to benefit from the on-going trade war between US and China?

January 3, 2022 February 21, 2024

Vietnam is all set to benefit from the trade-war between US and China. Vietnam will soon be ratified as a free-trade partner for many countries in the Pacific and European Union. The new status will give Vietnam a new advantage over China in terms of lower tariffs, labour wages and also finding new markets for exploration. Many nations have already started to explore alternatives to China for offshore production. 2019 saw a landmark investment of USD 8.47 billion by foreign investors. As the US and China are locked in the trade conflict a slight impetus to its banking sector and alterations in the tax structure will make Vietnam as a most-sought after nation in terms of liberalisation of global trade.

Topics: GS-II: Developed Versus Developing Countries Indias Interests

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