Trade war vietnam

Projects such as Bunge’s agribusiness are expected to increase in number through stronger US ties. Photo: Le Toan In his first few days in office five years ago, President Donald Trump withdrew from the Trans-Pacific Partnership, which was a pillar of the Barack Obama administration’s pivot towards Asia. The remaining 11 member states have since reframed the agreement as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and President Joe Biden’s commitment to rebuilding relations with allies has sparked speculation about the US returning to the fold. Fitch Solutions under global ratings firm Fitch Group told VIR in a statement that Vietnamese trade would receive a surefire boost should new Biden decide to rejoin the CPTPP. “Biden stated in 2019 that the US should renegotiate parts of the CPTPP and re-assemble a coalition to counterbalance China’s perceived expansionist policies. The Trump administration withdrew from the original deal in 2017 under the pretext that it would harm US workers. A scenario where the US rejoins the CPTPP would deliver substantial tailwinds to Vietnamese exports to the US from lower tariffs in major export categories,” Fitch said. In fact, the CPTPP may offer great windfalls to the US. Statistics from law firm Duane Morris Vietnam LLC showed that the population of the CPTPP countries exceeded 513 million people as of October 2020. The CPTPP countries account for nearly 45 per cent of US total exports and 37.6 per cent of US general imports in 2014. By cutting over 18,000 taxes in regards to CPTPP, there would be a great benefit for American importers and exporters by enabling them to enter new markets. As the United States International Trade Commission estimates, the US exports of goods and services to the world would expand by $27.2 billion by 2032 thanks to the CPTPP, while US imports would expand by $48.9 billion. Oliver Massmann, general director of Duane Morris Vietnam LLC, pointed out …

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The Hanoitimes - Vietnam's solar power sector holds much potential thanks to rising demand and a supportive regulatory framework. Coupled with an increasingly supportive regulatory environment and an expected surge in electricity consumption over the next decade, Vietnam’s renewables sector is poised for a new dawn, bringing great opportunities for investors. The outlook for growth in Vietnam’s renewables sector is positive and untapped solar power potential remains substantial, according to Daine Loh, research analyst at Fitch Solutions. The solar segment is one of the key drivers of this impressive growth, he said. Vietnam's estimated solar capacity by 2028. Photo: Fitch Solutions Increasing power demand Vietnam is set for a surge in power demand and consumption over the coming decade which largely stems from an expanding industrial and manufacturing sector, particularly as the ongoing US-China trade war plays out. In addition, positive demographics and rapid urbanization will also further stoke electricity consumption in Vietnam, which Fitch forecasts to grow by an annual average of 6.7% between 2019 and 2028, being one of the fastest rates in Asia. To serve the growing economic growth which is partly contributed by the manufacturing sector (accounts for nearly 17% of GDP), the government will prioritize the development of the power sector. Renewables will offer complementary growth opportunities amid increasing environmental consciousness and pollution concerns against the use of coal. Solar power, particularly distributed rooftop solar, is an attractive option for emerging markets to meet power demand, as it requires a shorter development time compared to thermal power projects, and has the ability to bypass some infrastructural shortfalls such as grid bottlenecks or land availability issues, Daine Loh emphasized. Regulatory support Vietnam has an increasingly supportive policy and regulatory environment for the …

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Pham Nguyen Quy Do you agree to a 30-50 percent cut in your income? Will you refrain from going out to meet friends and family for extended periods of time, maybe forever? These were much-debated questions in Japan where I live, as the country faced arguably the most impactful event of the decade in the form of a pandemic. Last year when the disease hit the country, authorities asked citizens to "refrain from going outside unless it was necessary or urgent." But it was difficult to pin down a definition of "necessary" or "urgent." For the first few months, people heeded the request. Not surprising, considering the nature of news coming in, of deaths in the thousands, and suffering in the millions. Over time, that sense of danger diminished, albeit slowly. People began to pay more attention to the costs of social distancing. For many, their jobs were their literal lifelines, keeping them and their family afloat. A pandemic disruption could lead them to ruin. And reports were already showing rising numbers of the unemployed, businesses and individuals going bankrupt and many having their incomes cut drastically. The demand for social security support increased 25 percent year-on-year. The hospital where I work constantly saw new patients with severe conditions, not because of Covid-19, but because of delayed diagnosis and intervention. Either their insurance had expired or they were "waiting for Covid-19 to die out." People were getting stressed, depressed and committing suicide. While there is a demographic of those more vulnerable to Covid-19 with underlying medical conditions, there are also those who are vulnerable after their incomes were cut. Without a financial safety net, that section of society also finds itself vulnerable to the disease. However, the very measures we put in place to stop Covid-19 have been double-edged. Society began classifying behaviors that reduce the chance of infection as "good" and the opposite as "bad." Of course …

[Read more...] about The Covid-19 challenge: reclaiming normalcy from the new normal