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In China's path: The rise of 'Made In Vietnam'
Vietnam has gained from geopolitical tensions but will it displace China as the new ‘Super Factory’? Foreign business executives offer a more complex picture.
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Superior EMS' plant in the Vietnam-Singapore Industrial Park in Hai Duong province. Superior also has factories in China.
PHOTO: LIANHE ZAOBAO
Sim Tze Wei
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Headlines such as "Vietnam's exports overtake Shenzhen" and "Is Vietnam the next China?" have drawn attention in China's media and online forums, reflecting anxiety that Vietnam might usurp China's position as the world's factory.
Western media, meanwhile, have focused on how China's zero-Covid policy has caused orders to be diverted to Vietnam. In a June report by German newspaper Frankfurter Allgemeine Zeitung with the eye-catching headline "Goodbye China, Hello Vietnam", one manufacturer said: "Vietnam seems to be a better and cheaper China."
