Vietnam's exports are declining against the trend, and the new "world factory" is just a false name?
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Since 2000, Vietnam has conducted a comprehensive study of China's manufacturing technology, and in recent years, its manufacturing technology has achieved significant development and achieved rapid development. Vietnam's total exports** totaled 58.5 billion, higher than Shenzhen's 5.8 billion. Vietnam has been recognized as a global factory and the most popular place to invest, and some ** in Germany have described it as a "cheaper, better product in China." However, Vietnam's growth in the January-April period was 11 percent, compared with a 12 percent decline in China's exports. The reversal has led to questions about whether Vietnam will be another global shop and the huge difference in manufacturing levels between Vietnam and China.
Vietnam's industry had a strong development in the 80s. Vietnamese leader Nguyen Van Linh has made a similar choice in China's reform and development, learning from China's experience to boost his country's economic growth. During this period, Vietnam was relatively closed in the world, and at the same time it was resisted by foreign capital. However, Nguyen Van Linh was well aware that WTO accession was of great significance to Vietnam's development, so when US Clinton paid a state visit to Vietnam in 2000, Vietnam decided to turn to the United States and sign a bill on "speeding up its integration into the international economy," and only became a formal member of the WTO six years later. Since then, in order to develop the country's economy and develop its own industry, Vietnam has taken a lot of measures to bring in foreign capital. Thanks to the above initiatives, companies like Samsung have set up factories in Vietnam and have become the largest investors in Vietnam.
In recent years, Vietnam has benefited greatly from a war between China and the United States. Some foreign-funded enterprises in China have been forced to relocate to neighboring countries such as Vietnam under pressure from the United States. Companies such as Nike, Samsung, and Apple have moved their production bases to Vietnam, thus promoting the development of production in Vietnam. In Vietnam, electronics, textile, machinery manufacturing make up the main production sectors. Vietnam is home to the factories of multinational companies such as Samsung, LG, and Foxconn, while the textile industry is dominated by casual clothing and brand-name ready-to-wear, while machine manufacturing includes the production of grinding machines, sheet metal and other parts, and the manufacture of vehicles.
However, Vietnam has also encountered certain problems in the process of development, and there are also shortcomings. As Vietnam's industrial chain is relatively low-end and fragile, some key raw materials still need to be imported, and the ** chain of Vietnamese companies is in high danger. Moreover, there is no cheap labor in Vietnam now, and the salary is about 150 per month, which is no longer competitive compared to cheap Chinese labor. Vietnam is also facing problems such as system and infrastructure construction, such as difficulties in capital turnover, high logistics costs, and limited transportation capacity, which have caused certain difficulties for the development of enterprises.
In short, although Vietnam's manufacturing industry has developed rapidly in recent years, it is also facing certain limitations and challenges. Vietnam is facing many problems such as weak chains, labor costs, and imperfect support systems, which restrict Vietnam's development in the direction of the world's production base. At the same time, China's industrial base, chain system and scientific and technological strength are in the forefront of the world, so China's manufacturing capacity and competitiveness are still in the forefront of the world. Therefore, although Vietnam was once used as a production base for China, whether it can replace China as a "global workshop" still needs further testing and development.
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