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The symbiotic trade relationship between China, Vietnam, and the United States attracts attention
Release time:2024-05-22 Source: Qingqiao Number of views:

Against the backdrop of profound changes in the global trade landscape, a unique trade symbiotic relationship has emerged between China, Vietnam, and the United States. The formation of this relationship stems from a series of tariff policies adopted by the United States in response to trade disputes with China. The reduction of direct trade between the United States and China unexpectedly promoted a surge in Vietnam's exports, while also driving a significant increase in Vietnam's imports from China.

According to Reuters, based on trade, customs, and investment data from the United Nations and China Vietnam, this symbiotic relationship has become increasingly evident in recent years. Last year, Vietnam's trade surplus almost entirely came from exports to the United States, reaching as high as105 billion US dollars, an increase of 1.5 times from the $4 billion that the Trump administration first launched a trade war against China. This growth momentum not only elevated Vietnam to the position of China, Mexico, and the European Union on the US trade deficit ranking, but also attracted widespread attention from the international community.

The core of this symbiotic relationship lies in Vietnam becoming an important bridge for Chinese goods to enter the US market. The combination of the competitive advantage of Chinese goods and Vietnam's position as a manufacturing hub has led to a surge in the quantity of goods exported from Vietnam to the United States. At the same time, in order to meet export demand, Vietnam has to import a large amount of raw materials and semi-finished products from China. According to data provided by the World Bank, the growth rate of Vietnam's imports from China is almost equal to the total value and variation of its exports to the United States, with a high degree of correlation between the two96%.

Expert analysis suggests that behind this symbiotic relationship, there may be a strategy for Chinese companies to evade US tariffs through Vietnam. Many Chinese enterprises choose to relocate their factories to northern Vietnam, taking advantage of Vietnam's labor advantages and tax policies to add value to semi-finished products before exporting them to the United States. However, this has also drawn the attention of the US Department of Commerce to some issues, such as some labeling asThe products manufactured in Vietnam have not actually undergone any value-added activities in Vietnam.

For Vietnam, obtaining the market economy status of the United States will be a crucial step in strengthening its trade relations with the United States. The Vietnamese government is actively seeking recognition from the United States and working to improve its trade structure and investment environment. However, in the increasingly complex and changing global trade environment, how Vietnam balances its trade relations with China and the United States will be an important challenge for its future.


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