The trade war has had an unexpected benefit.
For years, China has been the factory of the world. It is capable of producing practically anything and its works have been enormous leading the country to a modernization that no other has achieved in such a short time. The longest bridge in the world links the industrial hubs of China, while remaining a top-level export power. However, the trade war between the United States and China has caused The Asian Giant is no longer the ideal market so that many companies relocate their factories there. For this reason, new markets are being sought in which there can be access to labor in large quantities to May technology continue to flow throughout the planet.
It seems that investors have found it quite close to China, to the point that it borders it. Is about Vietnambeing a country with characteristics similar to China and that is has been modernized in recent years. In fact, many chip and mobile factories are moving to the country to start producing. massively for the global market. In fact, gruesome images have been seen during the COVID-19 pandemic in which workers in Vietnam slept in tents to continue producing for the large market.
A country that wants to pick up the baton
As the UN points out, the volume of products leaving China is plummeting, as is its price. This could cause some crisis in China’s shipping sector, while in other Asian countries production and shipping of products to all over the world is growing quite large.
Thus, it seems that Vietnam is at the epicenter of all of them, managing to become the country that welcomes more foreign investments and where factories appear to be locating after leaving China and other Western countries. Largely because it is a stable country, with a growing population and a technological capacity that is beginning to emerge. In fact, it has more and more direct sea routes with the United States.
Be careful, because this economic takeoff could be something good for the whole country or only for the elites depending on how the issue plays out. has already been seen workers working long hours to meet production quotas, something that is not positive and worsens people’s quality of life.
In order to summarize all the aspects discussed briefly:
- China is starting to decline in exports.
- The economic pole is beginning to oscillate around all of Asia and not exclusively China.
- China is one of the main suppliers of a large amount of raw materials and technological objects.
- However, there is a serious problem due to the trade blockade suffered by the United States.
- This has made Vietnam become one of the main points to which companies relocate their factories.
The country, which has an extensive coastline, has made many cities proliferate in it, without needing to focus on Ho Chi Minh or Saigon, the country’s two main cities. Thus, a country that until now it had had smaller foreign investments have seen how they have been doubling and the number of companies that are established there has increased.
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