China’s President Xi Jinping is set to embark on a tour of south-east Asia, with Vietnam as his first stop, aiming to strengthen economic ties amidst an escalating trade war.
Strengthening Economic Ties in South-East Asia
China’s President Xi Jinping is set to embark on a tour of south-east Asia, with Vietnam as his first stop. The visit aims to strengthen economic ties with neighbouring countries amidst an escalating trade war.
Xi Jinping is a Chinese politician who has been serving as the General Secretary of the Communist Party of China since 2012.
Born on June 15, 1953, in Beijing, Xi Jinping rose through the ranks of the party to become the President of China in 2013.
He was re-elected for a second term in 2018 and is set to serve until 2023.
Xi Jinping's leadership has been marked by efforts to consolidate power and promote economic development.
China’s Trade Aggression and the US Response
The Chinese president will emphasize that China is a stable partner in the region, contrasting itself with Washington which imposed tariffs across south-east Asia. These tariffs have had a significant impact on Vietnam and Cambodia, two of the worst-hit countries. The US tariffs, set at 46% for Vietnam and 49% for Cambodia, have led to concerns about a flood of cheap Chinese goods to nearby countries, undermining local industry.
China’s Investment Deals with Vietnam
China is expected to sign dozens of deals with Vietnam on Monday, including possible investment and cooperation arrangements to develop its railway network. These deals aim to strengthen economic ties between the two countries and provide a counterbalance to the US tariffs imposed by Washington.
The Delicate Balance Between China and the US
Vietnam’s visit will form part of a delicate balancing act between China and the US, both of which are important economic partners for south-east Asia. The US is a crucial export market for the region, while trade in the region is closely intertwined with China. Vietnam has traditionally sought to avoid taking sides between the US and China, but its economy is heavily reliant on exports to the US.
Vietnam is a Southeast Asian country with a rich history and culture.
Located on the Indochinese Peninsula, it borders China to the north, Laos and Cambodia to the west, and the South China Sea to the east.
The country has a diverse geography, featuring mountains, forests, and coastlines along its long coastline.
Vietnam's capital city is Hanoi, while Ho Chi Minh City is the largest metropolitan area.
The population of Vietnam is over 98 million people, with multiple ethnic groups and languages spoken throughout the country.
Xi’s Charm Offensive
Xi Jinping’s visits form part of a wider charm offensive pursued by China in the wake of the trade war. The Chinese leader also vowed to deepen his country’s strategic partnership with Indonesia and spoke with the European Commission president about supporting a ‘strong reformed trading system, free, fair and founded on a level playing field‘.
Cambodia and Malaysia Join the Diplomatic Efforts
Cambodia and Malaysia are also seeking to negotiate with the US, with China’s foreign ministry spokesperson describing the visit to Malaysia as an ‘important milestone’. The Malaysian communications minister said Xi’s visit was part of the government’s efforts to see better trade relations with various countries including China.
Vietnam’s Ambitious Target
Vietnam has set an ambitious target of becoming a high-income nation by 2045, driven by its exports. However, the recent tariff announcement has put this goal at risk. The country’s trade surplus with the US surpassed $123bn (£94bn), leaving it especially vulnerable to the latest tariff announcement.
China’s Response to Trump
China knows about humiliation and won’t take it from him. This statement reflects China’s frustration with the US trade policies, particularly the imposition of tariffs on Chinese imports. China has retaliated with its own tariffs, which remain in place for Chinese imports to the US, except in relation to consumer electronics and key chipmaking equipment.
China is a country located in East Asia, with a population of over 1.4 billion people.
It is the world's most populous country and has the third-largest land area.
China has a diverse geography, ranging from mountains to deserts and coastlines along the Pacific Ocean.
The country has a long history dating back to the Qin dynasty (221-206 BCE) and has been ruled by various dynasties throughout its history.
Today, China is a major economic power and a significant player in global politics.
A Symbolic Importance
While meaningful, concrete agreements may not emerge from the meetings, they would be symbolically important. Xi Jinping’s visits will provide a platform for China to position itself as the responsible leader of the rules-based trade system, while painting the US as a rogue nation intent on taking a sledgehammer to trade relationships.
The Future of South-East Asia’s Trade
The future of south-east Asia’s trade hangs in the balance. As China seeks to strengthen its economic ties with neighbouring countries, the region must navigate the complexities of the trade war and find a way to maintain stability. The outcome of Xi Jinping’s tour will have significant implications for the region’s economy and politics.
