VietNamNet Bridge - As GDP relies on exports, in order to avoid the abrasive effects of the China-US trade war, it needs to improve competitiveness and find new markets. Some experts believe the impacts on Vietnam's economy would be minor A report released by NCIF (the National Centre for Socio-Economic Information and Forecast) at a recent conference said if the US imposes a tax rate of 25 percent on $34 billion worth of imports from China, Vietnam would see its GDP decrease by VND6 trillion a year in 2018-2022. With the predicted decreases, Vietnam’s economic scale would be as follows: $235 billion by 2020, $250.2 billion by 2020, $284 billion by 2021 and $302 billion by 2022. With the predicted decreases, Vietnam’s economic scale would be as follows: $235 billion by 2020, $250.2 billion by 2020, $284 billion by 2021 and $302 billion by 2022. RELATED NEWS US-China tit-for-tat trade war to create misfortune for Vietnam US-China trade war evolves into … [Read more...] about How will Vietnam cope with the crisis caused by China-US trade war?
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Europe is "possibly as bad as China" on trade, US President Donald Trump said in an interview broadcast on Sunday (Jul 1), with trade wars emerging against both the Asian giant as well as longtime allies in Europe and Canada. File photo taken on Jun 29, 2018, of US President Donald Trump speaking to the press aboard Air Force One in flight as he travels from Joint Base Andrews in Maryland, to Bedminster, New Jersey. (SAUL LOEB/AFP) "The European Union is possibly as bad as China, only smaller," Trump said on Fox News' "Sunday Morning Futures" programme. "They send a Mercedes in, we can't send our cars in. Look what they do to our farmers. They don't want our farm products. Now in all fairness they have their farmers ... But we don't protect ours and they protect theirs," he said. Trump had already threatened tariffs on cars imported from the European Union, in response to the EU's retaliatory tariffs last week on iconic US products including bourbon, jeans and motorcycles. … [Read more...] about EU ‘possibly as bad as China’ on trade: Trump
Talks end with China warning trade benefits at risk if U.S. imposes tariffs U.S. Commerce Secretary Wilbur Ross (C,L), chats with Chinese Vice Premier Liu He, center, during a group photograph session after their meeting at the Diaoyutai State Guesthouse in Beijing, China Sunday, Jun 3, 2018 - PHOTO: REUTERS BEIJING (REUTERS) - China warned the United States on Sunday that any agreements reached on trade and business between the two countries will be void if Washington implements tariffs and other trade measures, as the two ended their latest round of talks in Beijing. A short statement, carried by the official Xinhua news agency, made no mention of any specific new agreements after U.S. Commerce Secretary Wilbur Ross met Chinese Vice Premier Liu He. It referred instead to a consensus they reached last month in Washington, when China agreed to significantly increase its purchases of U.S. goods and services. "To implement the consensus reached in Washington, the two sides have … [Read more...] about Talks end with China warning trade benefits at risk if U.S. imposes tariffs
This is an important event organised by the Chinese Government with the aim of exploring the potential for development in the western region of China. The trade fair focused on six main fields: investment cooperation, regional cooperation, the automobile industry, machinery, construction materials and specialties of western China. Addressing the opening ceremony of the trade fair, Chinese Premier Wen Jiabao acknowledged the Chinese Government's efforts in developing 12 provinces in western China, which have a large land area and great natural resources and share borders with neighbouring countries in the region. During the past 35 years, China has invested strongly in infrastructure development and energy projects in the western region, which has recorded an average GDP growth rate of more than 11 percent per annum. To boost the development of this region, Premier Wen Jiabao said that it is essential to strengthen trade and investment cooperation with the Association of Southeast Asian … [Read more...] about Prime Minister Nguyen Tan Dung attends 10th Western China International Trade Fair
PM Nguyen Tan Dung at the airport Prime Minister Nguyen Tan Dung and his Vietnamese delegation left Ha Noi on October 27 for Guangxi province to attend the fourth China-ASEAN trade fair and visit the Guangxi Zhuang Autonomous Region. The fair on seaport development will be organised from October 28-31. The visit to Guangxi Zhuang Autonomous Region by PM Dung came on the heels of the successful organisation of the 17 th National Congress of the Communist Party of China. It is aimed at strengthening the friendship and comprehensive cooperation between the two parties, two states in line with the motto “friendly neighbourliness, comprehensive cooperation, long-term stability and looking towards the future” and the spirit of “good neighbours, good friends, good comrades and good partners”. The visit is also geared to bolster the cooperation between Vietnamese localities and the two neighbouring provinces of Guangxi and Yunnan , particularly in economy, to … [Read more...] about PM Dung attends China-ASEAN trade fair