Malaysia Thailand: Vietnam and June Report

malaysia thailand: Shipments from Vietnam to the US surged nearly 40 percent year-on-year in the first four months of 2019, while imports from China over the same period fell 13 percent, according to the Financial Times on June 28, according to Global Times China. Separately, Japanese investment bank Nomura said in a June report that Vietnam is the largest beneficiary of the China-US trade war gaining new business worth 7.9 percent of its GDP. In 2018, Vietnam's GDP was an estimated 241.3 billion with a population of 95 million, according to the IMF. ASEAN manufacturing centers such as Vietnam, Malaysia and Thailand are likely to benefit from some diversion of export orders as well as stronger foreign direct investment flows over the medium term as multinationals diversify their global supply chains away from China, said an economic study by IHS Markit. Photo VCG Vietnam is seizing an unprecedented opportunity arising from a wave of production and export orders as the trade row between China and the US diverts business to the Southeast Asian country, but looming concerns persist, entrepreneurs and experts told the Global Times. There has been a spike in demand for production in Vietnam. His company works with plants in manufacturing hubs in China to produce apparel, accessories, bedding and injection molds. From our own records, it seems production requests outside of China have grown by over 30 percent, said Nathan Resnick, CEO of US business-to-business sourcing company Sourcify. (news.financializer.com). As reported in the news.