, Columnist
This Trade War ‘Winner’ Looks an Awful Lot Like China
Vietnam shares many of the mainland’s shortcomings. How long before Trump notices?
Objects in the mirror may be closer than they appear.
Photographer: Maika Elan/BloombergThis article is for subscribers only.
An Asian Communist state with a government-directed industrial policy churns out cheap goods for consumption in America. The country has a heavily controlled exchange rate, brandishes its low labor costs, enjoys a trade surplus and is wary of opening sensitive industries to foreigners. Add what might be politely described as some history of antipathy toward the U.S.
You might be forgiven for thinking that place is China, whose trade dispute with the U.S. is deepening. But no, it’s Vietnam.