Vietnam’s Bac Ninh has transformed from rice fields to factory floors as U.S.-China trade tensions redirected manufacturing from China.
Key Takeaways
-
Manufacturing shift accelerates: Vietnam has capitalized on Washington-Beijing trade friction, drawing factories seeking alternatives to China, especially in high-tech and electronics.
-
Growth pressures mount: Rising wages, labor shortages, and limited infrastructure reveal the strain of Vietnam’s rapid industrialization.
-
Regional competition intensifies: Rivals like Indonesia and the Philippines are attracting new investment, prompting Vietnam to push into advanced manufacturing and diversify its export markets.
