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Vietnam friend-shoring boost, Thai election muddle

Decoupling between China and the US is presenting opportunities for countries that are able to adapt their economies to shifting global supply chains. So far, the main beneficiary of these shifts has been Vietnam. The share of imports the US sources from Vietnam has risen by nearly 2%-points since the trade war began – far bigger than any other country. Despite the economy's mounting short-term difficulties, the good prospects for the country’s export-orientated manufacturing sector are one of the key reasons why we are optimistic on Vietnam's long-run outlook.

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