Vietnam, in full development, juggles between the United States and China
Caught between American demands and Chinese power, the Vietnamese government is trying to hold its own by welcoming investments from both giants. A balancing act, as Hanoi undertakes radical administrative reform, reports this Singapore daily.
In this village in Hung Yen Province, in northern Vietnam, on the banks of the winding Red River, an unprecedented buzz reigns. Fish are being shoveled out of breeding ponds. A tractor is busy clearing mounds of earth stored on the plot of land belonging to the owner of the local brickyard. But above all, a flurry of real estate deals are being negotiated, with prices reaching record highs, increasing sixfold in barely two months. “It's 100% Trump,” one resident says placidly.
Donald Trump's return to the White House and his stated desire to align global trade with American priorities have shaken markets and clouded economic growth forecasts. Amid these global trade tensions , Vietnam finds itself literally caught in a vice between the United States and China. The country is trying to negotiate a reduction in the 46% tariffs imposed by the Trump administration [reduced to 10% until July 8, while the two countries engage in talks].
But for some residents of the Red River in Hung Yen province – where Communist Party General Secretary To Lam hails –
Courrier International
