Donald Trump’s trade war with China aims to bring back manufacturing to the US. But in reality, could it be America’s once enemy, Vietnam, that could gain the most?
A string of companies are starting to shift production there from China to minimize the impact of the trade war after Washington imposed a fresh round of tariffs on an array of Chinese imports.
Last week, it emerged that Google could be moving production of its Pixel smartphone and smart speaker out of China to a former Nokia plant in Vietnam while Apple has also reportedly been considering similar steps.
And in 2018, GoerTek, a Chinese manufacturer of Apple’s Airpod headphones, announced that it was setting up shop elsewhere, it could be Vietnam.
According to Sophie Dao, Parter at GBS – a business & legal services company in Vietnam – which specialize in business incorporation services, more and more foreign investors start forming business present or factories in Vietnam. Within first quarters of this years, request from foreign investors to her firm increased over 220 percent.
But, the question is “Could Vietnam be the biggest winner from US-China trade war?”
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