Escalating trade war to hit Vietnam’s exports
The intensifying trade war between China and the U.S. threatens to derail Vietnam’s export growth with the weakening of the Chinese yuan.
Vietnam’s exports in the first six months rose 7.2 percent year-on-year, lower than the average growth of 11.6 percent in the last five years, according to customs data. Economist Nguyen Tri Hieu said a depreciating yuan would pose a challenge to Vietnamese goods trying to enter China as cheaper Chinese goods will pour into the country more easily and compete with domestic goods.
Dat Nguyen
