Vietnam

  • Edward Luce examines EU-US drift: “Without US leadership, the transatlantic alliance will not spring back to life.”
  • Philip Stephens argues that London’s Heathrow airport has turned its “manifest failings into a potentially golden asset” by convincing travellers that “the only way to improve the dismal lot of passengers is guarantee Heathrow still higher profits”.
  • David Pilling asks: what is the real point of GDP and can it ever be accurately measured?
  • Smart view: the French government hopes that its package of business reforms will encourage investment – the FT’s Michael Stothard sees whether France’s business community is convinced.
  • The conflict between China and Vietnam in 1979 lasted less than a month, but the legacy of ferocious fighting permeates the sour relations between the two countries even now.

 

Protesters holding Vietnamese flags attempt to push down the front gate of a factory in Bien Hoa (Getty)

By Ben Bland

Prompted by anger over Beijing’s assertive stance in the South China Sea, the deadly anti-Chinese riots sweeping through Vietnam’s industrial parks have highlighted just how important the country has become to global supply chains.

This has been good for Vietnam too.

With the crucial banking and state-owned enterprise sectors hamstrung by huge debts and a lack of reform since Vietnam started overheating in 2008, it is the thriving manufacturing sector that has kept the economy ticking along, accounting for 17 percent of GDP and generating much-needed foreign exchange.

What’s behind this manufacturing boom? 

By Catherine Contiguglia
♦ “If Germany’s economic model is the future of Europe, we should all be quite troubled,” writes Adam Posen, as growth built on exports and low wages is stifling productivity and depriving Germany’s workers of what they have earned.
♦ People must get over their initial annoyance with how the US administration has handled intervention in Syria and look to history to see the consequences of inaction in other stricken cities, says Philip Zelikow.
♦ The Assads are keeping up appearances as their country becomes further embroiled in civil conflict, looking jovial in public and unfazed by the increasing threat of an attack from the West.
♦ Rather than boxing Barack Obama in, the Syria crisis has offered multiple opportunities for increasing presidential power, as a negative congressional vote will do little to restrain use of military force, while an approval could bestow new powers on future presidents.
♦ There are a lot of parallels between Obama’s current drive for military action in Syria and Eisenhower’s experience in the lead up to Vietnam, laid out by Jeffrey Frank in a comparison of the rhetoric and policy stances of both presidents.