Foreign media: Vietnam to benefit the transfer of manufacturing in China

Vietnam China manufacturing industry transfer

cankaoxiaoxi· 2016-08-11 04:17:45

Reference News Network in August 10 daily news media said, for observers, Vietnam seems to achieve rapid, sustainable economic growth made the right decision.

according to Thailand, "Bangkok post" website reported on August 8th, since the last century since 90s, Vietnam's economic growth rate has remained at around 6%, making the country into a middle-income country from a poor country. If you can maintain a high growth rate of 7% to 6%, then Vietnam may become another South korea. If there are other circumstances, the economic growth rate in Vietnam may fall to 4%, then Vietnam may be like Brazil and Thailand, into the middle-income trap.

Vietnam is located in the south of China, which has brought economic advantage. China's manufacturing industry is mainly concentrated in Southern China, especially in Shenzhen and other cities. As China's wages rise, it has been a reasonable choice for China's manufacturing industry to shift the supply chain from neighboring China, where wages and costs are lower.

the size of the rural labor force and the average age of workers is low is conducive to the two major factors in vietnam.

and India, 70% of the workforce in rural Vietnam, helps the low wage level. Has experienced decades of urbanization in China only 44% of the population live in rural areas.

Vietnam's median age is 29.6 years, while China is 36.8 years old. If an economy more young employees, so the benefits from it, because the young workers don't pay so high, easier to manage, more flexible way of life, and other single people live in factory dormitories and more convenient.

in the last century in 90s, Vietnam has become an open economy. Decades later, foreign trade accounted for a large piece of Vietnam's gross domestic product, foreign investment accounted for 25% of the total investment.

Vietnam is the "trans Pacific (6.130, -0.04, -0.65%) partnership agreement," the signing of the country, once the agreement in the United States Congress passed, it may bring benefits in the future to vietnam. Vietnam and South Korea's free trade agreement came into effect last December, and the EU's free trade agreement is under negotiation.

prosperity of the economy also has some shortcomings. 2011 real estate speculation bubble burst, the Vietnamese banks suffered a high rate of non-performing loans.

Vietnam government has always stressed the long-term planning for the country's economic development for the 5 year plan. In the ranking of global education, Vietnamese students in mathematics and science performance is better than the United States and the United kingdom.

Vietnam provinces are actively fighting for investment, Vietnam has a very effective industrial park system. But it is a big problem to improve the efficiency of state-owned enterprises.

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