Newsweek reports on the emergence of Vietnam as a formidable competitor to China."...In many ways, Vietnam is a throwback to Asia's export-driven tiger economies, which thrived until China emerged as a world-beating manufacturer in the 1990s. Yet its emergence illustrates how China itself has become vulnerable to cut-rate competitors. Unlike other Asian economies, which sought to align themselves with the juggernaut in their midst, Vietnam has instead become a giant-killer. Much of its growth now comes in industries China still dominates, like textiles, footwear and toys. It competes against China in key Western markets but exports comparatively little to its northern neighbor..."African countries particularly with regard to textiles have thrown their hands up in horror and desperation at the onset of what they view as unstoppable Chinese competition. Vietnam's pugnacity illustrates the importance of a logically executed policy and the caliber of their nascent private sector. The victimist handwringing stance of African goverments when it comes to trade is a derivative of opaque and often clueless reactive thinking. The adoption of a constructive dynamic approach as evidenced by the success of the Vietnamese is something that needs to be embarked upon by the African private-public sector.
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