Infographic by HSBC Since the advent of US-China trade tensions, Viet Nam has been one of the biggest beneficiaries in terms of both trade and FDI diversion, boosting its export share in the US market in particular. As a result, Viet Nam has become increasingly vulnerable to a US economic slowdown. In its recent 'Vietnam at a glance' report, HSBC said Viet Nam has been hit hard by a global trade slowdown, seeing the first meaningful year-on-year decline in its exports in two years. In particular, the decline has been led by an economic slowdown in the US, Viet Nam’s largest export destination. After over two years of booming trade, the “pay-back” time has come. Global orders have been falling sharply, taking a toll on Asian exporters. Viet Nam is no exception, and it has been on the front line in terms of feeling the pain. In November, the country saw the first meaningful year-on-year decline in its exports in two years, with broad-based weakness. In particular, shipments of … [Read more...] about HSBC: Is an export winter approaching?
Why does shortages affect prices
BERLIN -- In its first year, Chancellor Olaf Scholz's government has driven the biggest overhaul of German policy since World War Two. The next year could be even tougher, further absorbing Berlin's bandwidth to Europe's detriment. Scholz, formerly the finance minister, came to power pledging continuity with the era of Angela Merkel who oversaw 16 years of prosperity and stability in Europe's largest economy, enabling her to take stewardship of the broader region. Russia's war in Ukraine instead cast a shadow over her legacy and forced him to focus on re-arming Germany, replacing the cheap Russian energy deliveries upon which it relied and accelerating a shift in foreign policy towards more strategy and less mercantilism. The "Zeitenwende" or epochal change of times, as Scholz dubbed it, has proven all the trickier given the heterogeneity of his government -- the first three-way coalition at national level in decades. His centre-left Social Democrats, the Greens and liberal … [Read more...] about Analysis: Germany’s government looks inward as challenges mount, allies fret
Deputy Tang Huu Phong The Chairman made the statement at today’s eighth session of the tenth tenure of the Ho Chi Minh City People's Council continued the second working day. Deputies posed questions about some matters. Deputy Tang Huu Phong raised the question that in mid-October, right after Ho Chi Minh City controlled the epidemic and moved to a stage of flexibly and safely adapting to the Covid-19 epidemic, Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen directed at the Conference of the Executive Committee of the Ho Chi Minh City Party Committee for the term of 2020-2025 to focus on mobilizing all social resources to build social housing and public accommodation projects. This is an important program that received great attention from people from every walks of life, workers, employees, officials, teachers and businesspersons. Social housing construction was then repeatedly mentioned in city conferences, meetings and working sessions of city leaders with … [Read more...] about HCMC to focus on developing worker accommodation, social housing programs