I worked with Vietnamese in a factory in the US. They are amazing people and some of my favorites. They have great personalities, love to laugh, and 100% genuine. Be fair and open-minded, and the world will love you.
America is lucky to have Southern Vietnamese people (from Danang to Camau), Southern Vietnamese are what you have just described. I love them too (of course there are always bad ones around, but we are talking about majority)
Except their English is often so bad it's really difficult to be productive. We moved alot of the SW from India to Vietnam and on paper it's might be cheaper but in practice double effort with all the required rework and training. Europe is really shooting itself in the foot on the long run with all the outsourcing.
Trinh has high energy, is well informed, well spoken and very intelligent. I really enjoyed her perspective as a western dude. Vietnam is the wild card as global chaos ensues this year.
Vietnamese 🇻🇳 and Chinese cultures are very close. - Even the Forbidden City, a symbol of Chinese civilization in Beijing, was designed by a kidnapped Vietnamese and built by forced laborers from Vietnam.
A Korean industrialist I know who has factories in both China and Vietnam once told me that he can employ 2 Vietnamese welders for the same wages as 1 Chinese, and the Vietnamese welder is twice as skilful as the Chinese. The only reason he keeps production in China is because of Chinese 'local content' requirements.......
Quote : "the Vietnamese welder is twice as skilful as the Chinese." I find this statement very hard to believe. I've been to China many times over many years. My company specializes in machine manufacturing.
Korea/Japan can make high-quality products but at a very high cost while Vietnam labour cost is relatively cheaper. Hope more cooperation between Japan/Korea companies and high-quality afforable Vietnamese workers. Only cooperation make us stronger against giant China. Also, Japan/Korea recently outsource more job to Vietnamese IT workers. Very promising collaboration between 3 countries.
@@appl2597 I have lived in China for 3 years, and visited many factories related to steel fabrication in both Vietnam and China. I find the Korean industrialist's statement to be credible. This is just one example where Vietnamese are more skilled than Chinese. I am sure there are also industries where Chinese are more skilled than Vietnamese (e.g. casting, plastics, some electronics , automotive)
China moved non high tech production to Vietnam due to labor cost. There is not Vietnam development. Its Chinese expansions there to save money and avoid tariffs and sanctions.
Nah, the Vietnamese has been delivering good quality products for many decades already - they got an educated and skilled workforce and are keen on delivering..
*International laws* are very clear on the South China Sea: - parts of it belong to some ASEAN countries, including Vietnam 🇻🇳, - the rest of it is the international water, - no part of it belongs to China🇨🇳 or Taiwan🇹🇼.
And they say China has an aging population which will collapse their economy. Last I check the Germany spent over 40% budget on social security (30% for UK), and countries like US, China, Singapore, etc spending only15% to 20%. Add spending on healthcare, more than 50% of government budget is gone. It's tough for young people to pay heavy tax and getting nothing in return, and government can't make any real investment in infrastructure.
@@YSKWatch don't misled by the stats number if you haven't checked the details. The high saving rate is mainly driven by corporates, not private...... Private saving rate is around 20%, and many people are having vacations (though not always overseas becasue Chinese need visas almost everywhere).
DW is an independent media outlet, it has nothing to do with Germany. DW has been giving thousands of negative videos about Germany. That is uncompromising journalism and I think it heard for you to swallow. "Germany itself is now the sick man of Europe" then, you don't know anything about Germany let alone Europe, sir.
Clearly a high end educated women, perhaps over educated. Poor presentation speaking far too fast as if reciting a mantra and not emphasizing her salient points. Failed to mention the extraordinary low both government and private debt.
Way too fast!!! This is a talk about economics, not about politics. She has not yet escaped the style of a commi propagandist. Nice to hear about Vietnam developing though!
The poetic justice of Vietnam becoming a major exporter to the United States and allied to the United States is a beautiful thing. Whatever America can do to help Vietnam will help America rebuild its karma.
Vietnam is heavily dependent on China for key input and electricity. Don't expect Vietnam to be a meaningful counterbalance to China. What is happening is transshipping to escape tariff not Vietnam developing it's core manufacturing capability.
Vietnam is importing electricity from Laos and China. The amount of electricity imported from China accounts for a very small percentage. Vietnam is preparing to build a nuclear power plant in the near future.
@@mkjasonandy Imported electricity is mainly used for the North. Daily consumption is about 450 million kWh/day , of which 4 million kWh/day is imported from China, from Lao is 7 million kWh/day. This is a very small proportion. Note : Vietnam is also exporting electricity to Laos and Cambodia
Why Philippines has the most expensive electricity? Two decades after EPIRA, the electricity rates in the Philippines are still among the highest. There are many potential causes of high prices, including low generation capacity, governance failures, bureaucratic hurdles, and limited competition.
so odd, just last year DW was praising india like the second coming of messiah. Now they move on to Vietnam like they did the same with india. Something is cooking here
Vietnam's GDP for 2023 is 429.7 billion US dollars! The GDP of the Philippines in 2023 is 437.1 billion US dollars! The GDP of Jiangxi Province, China in 2023 is 460 billion US dollars! Jiangxi Province's GDP ranks 15th in China!
@@wojiaobill In 2023, the gross domestic product (GDP) of Jiangxi province in China was approximately 3.2 trillion yuan, or US$457 billion. The per-capita GDP was around 71,200 yuan, or US$10,106 from google ai search
You do know that economic development continues to happen, and an economy can grow or shrink, right? It is the trend that is becoming (very) worrisome for China as it faces a real risk of economic stagflation due to unresolved real estate sector (a big chunk of the economy, and likely destroyer of people's life savings), closures/departures of 'Western' factories, overcapacities in many manufacturing sectors, increasing trade tensions with trade partners, quickly aging population, huge outflow of money, etc. And Trump!
lol, you are kidding right? China is still a developing country. Get out of the Tier 1/2 cities, the rest of china is still behind, specially the autonomous regions.
Yes, growth in developing nations has more potential to be higher than in mature/developed ones. The gist is that China was fast growing, now other are taking over. And China is not a developed nation yet
Mate, it's DW, what do you expect. Mind you I was in Vietnam last year, and I must say, it felt like the 1970s-1980s China. More like 1980s-1985 ish. What that means, well, FDI is good (but still small compare to China) and it is still communism, restrictions are there, more so than China. However, people generally have a lot more "disposal income" to spend becoz the property price is low, transportation cost is low, food cost is low so people living standards are on the rise. But please do not forget, their income in general are still low. Just that the curve is on the upwards trend comparing to China. I would still choose China as base becoz of its stability in many aspects. It's kind of chaotic there im VN, you really have to live there and compare. Visiting are not the same as living. Investment wise however, well, if you have a lot of money, you would buy some shares from Coca-cola, some shares on Microsoft, and probably invest some odd chips onto the newly named stocks, but I doubt you would move ALL your money onto these smaller speculative stocks, right? Vietnam is the same. If you are looking for a job, well.... Vietnam might pay you very well if you have a very unique skill, but you will be one in a million. In general, you will have to take a pay cut to get there, but your life could have an immediate improvement (say if u live in the US with the same money). It really depends. Many many years ago Hong Kong's GDP was bigger than the whole of China.... those days are gone. Unless you can make Vietnam top 3-4 cities into a complete Singapore. If you tell me Vietnam can become about 10 Singapores (name 10 cities in Vietnam) then yeah, they could beat China then. [I need to look up the GDP of SG and China.... just a gut feel] But if you cannot name 10 cities in VN could become 10 Singapores, then saying VN is beating China is a very naive statement, exactly what I'd expect DW News is]
No... Vietnam is communist, and has been fully communist since the fall of South Vietnam. From Wikipedia: Vietnam is a unitary Marxist-Leninist one-party socialist republic, one of the two communist states (the other being Laos) in Southeast Asia.[233] Although Vietnam remains officially committed to socialism as its defining creed, its economic policies have grown increasingly capitalist,[234][235] with The Economist characterising its leadership as "ardently capitalist communists".[236] Under the constitution, the Communist Party of Vietnam (CPV) asserts their role in all branches of the country's politics and society.[233] The president is the elected head of state and the commander-in-chief of the military, serving as the chairman of the Council of Supreme Defence and Security, and holds the second highest office in Vietnam as well as performing executive functions and state appointments and setting policy.[233]
It's baffling that the western world still make the same mistake again. Vietnam is literally mini-China, both culturally and politically speaking. So, another western loss again in the future. Why don't invest in a more democratic country like Indonesia?
@Cyan_Nightingale If you are really an Indonesian, you will know the reason why foreign investors ditched Indonesia and move their investment elsewhere.
Harvard Business Review begs to differ. Less than 1.9% of Vietnamese exports can be considered Chinese companies transshipments. It is a free pdf so feel free to Google and read. There are more Taiwanese factory owners than Chinese. They are the same ethnicity so many get confused.
Growth slows down once a country's economy finishes becoming industrialized, high tech and lifts most people out of poverty. Simple. Great that it's now happening to Vietnam
As a vnmese I seriously hope this "keeps on booming" is real! VN is a rich country in natural resources, in geographical importance, and in human resource. But for thousands of years, VN has never been a regional powerhouse despite all the natural advantages, so there must be some fundamental problems in the culture or the mindset. Who knows! I'll keep a wait and see and believe it when I see it stance! Godspeed!
Nothing wrong with the mindset. Vietnamese people have been dominated. First by the French then by the Americans. Now they are in a good position where China is helping them develop and usa wants them as a China alternative.
@@GraniteInTheFace lol! Dominated?! You clearly don't know the vnmese! Nobody can dominate them. They'll topple every dominator eventually. But they are also very bad at governing themselves! It's just weird! That's why I said there're problems in either the mindset or the culture. The biggest advantage VN has over other emerging countries is the geographical proximity to China. Right now, the north has already traded the natural environment for economic development. We'll see how it goes but I won't keep my breath!
If we look at Vietnam's growth pattern, we certainly cannot just look at one year. I first handedly live with Chinese, Koreans, Vietnamese, etc. I say Vietnam is significantly different from China, not just culturally but more intrinsically. China has been telling its people that Vietnam is a friend and Vietnam needs to be prosperous to benefit China. This is not the view of Vietnam. If there is one ethnicity that the current Vietnamese dislike, that is the Chinese. In the US and EU, it is observable that Vietnamese and Chinese do not mix at people level. If you listen to Trinh, despite China's FDI is a lot bigger than Japan, she did not mention China as a key investor into Vietnam. She did this twice. Just think about it. Think about why.
@@LollipopLop You did not understand my point. When the Chinese move their business to Vietnam, they assume the Vietnamese are similar people under Confucius circle. The reality is not really like that. The Chinese are not correct.
AS AN AMERICAN BUSINESS MAN WHO HAVE VISITED VIETNAM, MEXICO INDIA ARE ALL USING CHINESE SUPPLY CHAIN. CHINESE SUPPLY CHAIN IS THE MOST ADVANCED IN THE WORLD. CHINESE VERTICAL INTEGRATION AND INDUSTRIAL AUTOMATION IS THE BEST IN THE WORLD.. IT TOOK THE 40 YEARS TO PERFECT. EVERY ONE DEPENDS ON CHINESE SUPPLY CHAIN BECAUSE IT TAKES DECADES TO BUILD A SUPPLY CHAIN.
Two socialist countries working hard together to succeed for its own people and the west trying to sow discontent between them? They will not bother with you and keep pulling ahead😂
the living cost there very very cheap thanks to agricultural area, low tax, and also the control of inflation to keep the cheap labor that can attract investors and keep the life of pp still comfortable
@@말라유 Vietnam still have lower GDP per capita than Indonesia and therefore cheaper labor cost. I know that because I used to work for Indonesian company which open factories in Vietnam to lower production cost.
Using Vietnm to counter Ch!na is the motive thought US democracy would not hate communism when come to Vietnm. But Vietnm is still heavily relying on C h!nese supplies, infrastructure and knowhow.
When China was at a similar stage of development as Vietnam, its average annual GDP growth rate exceeded 10% and was sustained for about 30 years. Vietnam’s competitors are not China, but rather India and Bangladesh.
@@cynki5152 0.47 trillion US dollars vs 18.5 trillion US dollars, China's GDP is 40 times that of Vietnam! US $4400 vs US $13000, China's per capita GDP is three times that of Vietnam! Vietnam and the Philippines are on the same level, with almost the same population and GDP! So, don't compare Vietnam and China, the difference is too far, it's like comparing yourself with Elon Musk, it's meaningless!
I live in HCMC. As I write this, both Hanoi and HCMC are two of the most polluted cities in the world with extremely high levels of pm2.5. Vietnam needs to find measures to contain this as its manufacturing sector grows otherwise the large expat community here who are contributing significantly to this growth will pack their bags and go.
Vietnam is doing their job really great. Chinese came here and say China is influential to Vietnam. But that is not true at all. The reason why China can make products, because USA buys it. If USA stops buying it from China. Then USA will directly trade with Vietnam. And South Korea is more deeply related to Vietnam, not China. Chinese do not have any purchasing power. Samsung products from Vietnam is purchased by USA, Europe, South Korea and Australia and South Americas.
Good luck spending money on factories and hiring skilled workers, taking 3-5 years ONLY to go broke in the meantime hahahah Even Apple is going back to Chyna BTW, its China who is banning goods to and from the USA hahahaha
Chinese do NOT have purchasing power? LOL German and US carmakers were making a killing in the Chinese booming middle class from 1.4 billion.... NOW that China has banned them, they are all going broke !! Chinese can get better local products like Huawei than foreign rubbbish
Well DW does have journalists like Zhang DanHong but she left because she's fed up with what she can or cannot report as a journalist (due to internal censorship), such as topics about asylum seekers, and it may box someone into the far-right category (i.e. you must be conform to this artificially made standards otherwise you'll be censored) which is kind of unfair in my opinion. So I suppose one couldn't report certain topics about China as well, therefore certain topics can be a bit one sided.
Why doesnt the picture on the cideo show the German Chancellor? What is DW weird facination with China and Xi? Is Vietnam kicking Germany economically but dont want to compare? 😂
Wrong to compare Vietnam with China. China is huge in terms of economic size and technological power. Vietnam can think about competing with China in the longer term.
Tell you an harsh reality: among all the 31 provinces of China, even the poor province Guangxi bordering with Vietnam can beat Vietnam easily. Having said that, is it worth for German media talking about the nonsense? 😅
It's really not Vietnam. It's Chinese firms relocating to Vietnam. Machinery is Chinese, financing is from Chinese banks, management is Chinese, even raw materials and large chunk of the electricity is bought from China. It does bring a lot of low end employment to Vietnam though, which is good for them.
@mkjasonandy doesn't change anything. Vietnam is primarily a beneficiary of American sinophobia, it's not like Vietnam is doing anything special, its main selling point is "hey I'm not China!"
Relying on foreign investment so heavily is so not good form of growth. It's just a typical middle income country plan. Vietnamese government gives more benefits to foreign companies than their own countries start ups which is bad. Anyway, the low hanging fruit is gone and they keep keep trying to tariff automobiles all they want but it won't make them competitive.
8:19 india didn't need textile FDI india aim is totally different india aim is fdi in electronics and other crucial high tech areas FDI india accepting such as semicounter FDI by usa MICRON and STMelectronics and Taiwanese gaint powerchip which didn"t have india alternative ! cuz huge textile parks by indian private players rising up already we kept out textile for our back then friendly neihbour bangladesh but policy chnaging now after regime change
You cant just jump directly from nothing to high tech manufacturing. The workforce needs to be trained in manufacturing techniques and disciplines. That's why all countries went step by step. England also got start with textile, then heavy industries, then tech and other higher valued added industries. Same with China, Taiwan, etc.
AS AN AMERICAN BUSINESS MAN WHO HAVE TRAVELLED GLOBALLY, AND BEEN TO CHINA. THE WESTERN BUSINESS COMMUNITY, POPULATIONS AND IGNORANT POLITICIANS DO NOT SEEM TO UNDERSTAND THAT THE GLOBAL SOUTH EMERGING MARKETS WITH RISING POPULATIONS WORTH TRILLIONS OF DOLLARS 88% OF THE GLOBAL POPULATION WILL LEAD GLOBAL ECONOMIC GROWTH FOR THE NEXT 50 YEARS. ..DEVELOPING NATIONS NEED EVERYTHING TO BECOME DEVELOPED. THIS IS A 100 YEAR MARATHON. EXAMPLE THE GLOBAL EV MARKET IS PROJECTED AT 9 TRILLION DOLLARS BY 2030. THAT IS ONLY 5 YEARS AND THE ONLY WESTERN EV COMPANY IN THIS SPACE IS TESLA AND BYD IS NOW GONE GLOBAL..AS THESE NATIONS DEVELOP DEMAND FOR HIGH VALUE ADDED GOODS WILL RISE, AND CHINESE COMPANIES ARE POISED TO DOMINATE THESE MULTI TRILLION DOLLAR MARKETS. BECAUSE CHINA CAN MANUFACTURER GOODS THESES PEOPLE CAN AFFORD.THE WESTERN MEDIA ALWAYS BASHING CHINA, CHINESE YOUTH UNEMPLOYMENT.. CHINA GRADUATES 4 MILLION STEM GRADES EVER YEAR..THIS IS ALSO STRATEGIC. AS THE GLOBAL SOUTH RISES ECONOMICALLY, THEY ARE GOING TO NEED ENGINEERS, SCIENTISTS AND TECHNICALLY SKILLED EXPERTS AND CHINA IS POISED TO DOMINATE THESE SECTORS TOO.. ITS TIME WE IN THE WEST ESPECIALLY AMERICAN STOP THIS ANTI CHINA BASHING HATE DEMONIZATION AND START TO LOOK AT THE WORLD DIFFERENTLY.. WE NEED A NEW GENERATION OF AMERICANS LEADERS TO END THIS DIVIDED AND CONQUER RACIST VIEW OF OUR WORLD. ZERO SUM MENTALLY ONLY LEADS TO ZERO..ITS TIME TO ADOPT A NEW VISION AND LEARN FROM CHINESE WISDOM THAT WIN WIN MENTALITY IS IN EVERY ONES BEST INTREST.. INSTEAD OF HATRED OF CHINESE TECHNOLOGICAL AND ECONOMIC SUCCESS WE CAN COLLABORATE WITH CHINA AND WORK TOGETHER TO SOLVE THESE MASSIVE MULTI TRILLION DOLLAR MARKETS PROBLEMS AND MAKE A LOT OF MONEY FOR AMERICAN COMPANIES AND EXPORTERS..AS PRESIDENT XI SAID THE WORLD IS BIG ENOUGH FOR US ALL TO PROSPER ECONOMICALLY. DO NOT VIEW OUR SUCCESS AS A LOSS FOR YOU AMERICANS. THE ECONOMIC DEVELOPMENT OF 7 BILLION PEOPLE WILL TAKE THE NEXT 100 YEARS AND CHINESE AND AMERICAN COMPANIES DO NOT NOT HAVE THE CAPACITY TO EVEN BEGIN TO MAKE A DENT IN THE MASSIVE ECONOMY DEMANDS DEVELOPING NATION ARE GOING TO NEED IN THE NEXT 50 YEARS. ENOUGH OF THIS RACISM AND EVIL, NASTY DARK HATEFUL VIEW TOWARD CHINA AND THESES 3RD WORLD NATIONS. ITS TIME TO REBUILD OUR MANUFACTURING BASE OUR INFRASTRUCTURE AND FOCUS ON TRADE AND OPENING UP NEW MARKETS FOR AMERICAN EXPORTERS INSTEAD THIS SELF DESTRUCTIVE OBSESSION WITH WITH HATE DIVIDE AND CONQUER, RACISM , ENDLESS WARS AND SANCTIONS AND WORLD DOMINATION USING OUR MILITARY.. THIS IS A LOSING PREPOSITION.
@@nymuelovan Vietnam's GDP for 2023 is 429.7 billion US dollars! The GDP of the Philippines in 2023 is 437.1 billion US dollars! The GDP of Jiangxi Province, China in 2023 is 460 billion US dollars! Jiangxi Province's GDP ranks 15th in China!
I worked with Vietnamese in a factory in the US. They are amazing people and some of my favorites. They have great personalities, love to laugh, and 100% genuine. Be fair and open-minded, and the world will love you.
Vietnamese people except for coming from the North are good
America is lucky to have Southern Vietnamese people (from Danang to Camau), Southern Vietnamese are what you have just described. I love them too (of course there are always bad ones around, but we are talking about majority)
Except their English is often so bad it's really difficult to be productive. We moved alot of the SW from India to Vietnam and on paper it's might be cheaper but in practice double effort with all the required rework and training. Europe is really shooting itself in the foot on the long run with all the outsourcing.
@johannagardangười miền nam việt Nam sang mỹ là gánh nặng cho nước mỹ
Happy for them. Vietnamese are giving us really tough competition in various sectors. India will always stand with Vietnam and advance together.
True, I wish all the best for India too!
That’s very nice of you to say that, good and gracious attitude
as economy vietnam growing fast, nowdays millions of indonesian people ready to go vietnam for high paying job .
@@말라유 im sure that indonesian is richer than vietnam. thats like saying millions of koreans are moving to china for a high paying job.
@@ftu2021um Koreans don’t move to China to earn money bro
they earn in Korea
Trinh has high energy, is well informed, well spoken and very intelligent. I really enjoyed her perspective as a western dude. Vietnam is the wild card as global chaos ensues this year.
hah, i can say i'm proud of her as an indonesian and an asean citizen
She speaks well but a bit fast
Vietnamese 🇻🇳 and Chinese cultures are very close.
- Even the Forbidden City, a symbol of Chinese civilization in Beijing, was designed by a kidnapped Vietnamese and built by forced laborers from Vietnam.
Vietnam also has a vibrant tourism sector.
Which, in a certain sense, counts as exports... certainly a current account positive line item.
Vietnam humiliated The Americans and won their independence from colonial rule. That's why their economy is so prosperous today.
Uh ...
That's.. awkward.. Vietnam was also in war against P.R.China too in 1979
because the system in china and vietnam are basically the same.
Not for Americans, surely for China thousands of years!
Not sure if it is a sufficient condition
I know something wrong when I'm more bullish on Vietnam, than on my native country (Indonesia)
as economy vietnam growing fast, nowdays millions of indonesian people ready to go vietnam for high paying job .
A Korean industrialist I know who has factories in both China and Vietnam once told me that he can employ 2 Vietnamese welders for the same wages as 1 Chinese, and the Vietnamese welder is twice as skilful as the Chinese. The only reason he keeps production in China is because of Chinese 'local content' requirements.......
Quote : "the Vietnamese welder is twice as skilful as the Chinese."
I find this statement very hard to believe.
I've been to China many times over many years. My company specializes in machine manufacturing.
@ccb: you are just passing information from someone else, which most likely untrue.
Korea/Japan can make high-quality products but at a very high cost while Vietnam labour cost is relatively cheaper. Hope more cooperation between Japan/Korea companies and high-quality afforable Vietnamese workers. Only cooperation make us stronger against giant China.
Also, Japan/Korea recently outsource more job to Vietnamese IT workers. Very promising collaboration between 3 countries.
@@appl2597 I have lived in China for 3 years, and visited many factories related to steel fabrication in both Vietnam and China. I find the Korean industrialist's statement to be credible. This is just one example where Vietnamese are more skilled than Chinese. I am sure there are also industries where Chinese are more skilled than Vietnamese (e.g. casting, plastics, some electronics , automotive)
@@YSKWatch Another chinese bot detected 😆😅🤣
I really hope the vietnamese become developed. They deserve it. They're hardworking people. Loved my time in that country.
China moved non high tech production to Vietnam due to labor cost. There is not Vietnam development. Its Chinese expansions there to save money and avoid tariffs and sanctions.
interesting logic, it happened the same with China in the past, so there is no China development?
Lol did you forget the US did the same thing to china in the 80s 90s? So no development in china according to your logic.
I think you have trouble understanding simply English @@d.p.2386
Nah, the Vietnamese has been delivering good quality products for many decades already - they got an educated and skilled workforce and are keen on delivering..
By the same logic, there’s been zero growth of the Mexican economy since NAFTA because it’s just American and foreign companies setting up shop there.
*International laws* are very clear on the South China Sea:
- parts of it belong to some ASEAN countries, including Vietnam 🇻🇳,
- the rest of it is the international water,
- no part of it belongs to China🇨🇳 or Taiwan🇹🇼.
Tell the Americans to sign up to those laws first !!
Vietnam is like China 15 years ago. They both have a market socialist system which has helped economic growth.
DW has been reporting China going down for decades while Germany itself is now the sick man of Europe 😂
And they say China has an aging population which will collapse their economy.
Last I check the Germany spent over 40% budget on social security (30% for UK), and countries like US, China, Singapore, etc spending only15% to 20%. Add spending on healthcare, more than 50% of government budget is gone.
It's tough for young people to pay heavy tax and getting nothing in return, and government can't make any real investment in infrastructure.
china saving average is 40-45% of monthly salary. if their children can support them well, they'll use the savings for vacation around the world.
@@YSKWatch don't misled by the stats number if you haven't checked the details. The high saving rate is mainly driven by corporates, not private...... Private saving rate is around 20%, and many people are having vacations (though not always overseas becasue Chinese need visas almost everywhere).
But china is still going down.
DW is an independent media outlet, it has nothing to do with Germany. DW has been giving thousands of negative videos about Germany. That is uncompromising journalism and I think it heard for you to swallow.
"Germany itself is now the sick man of Europe" then, you don't know anything about Germany let alone Europe, sir.
I hope Vietnam and USA can work together and be strategic partners! Greetings from USA
Vietnam is a communist country
Occasionally u hear such an articulate, candid & well informed/ researched guest.
Clearly a high end educated women, perhaps over educated. Poor presentation speaking far too fast as if reciting a mantra and not emphasizing her salient points. Failed to mention the extraordinary low both government and private debt.
Way too fast!!! This is a talk about economics, not about politics. She has not yet escaped the style of a commi propagandist. Nice to hear about Vietnam developing though!
as an indonesian i am happy
the clothing from Vietnam is so much better than the clothes from china.
90% from china ,whats your point ?
india is best
@@havencat9337 Why can't we find many clothing or shoes from India here in America or Europe?
LOL
vinfast having huge success in US
Says who? Who told you this?
The poetic justice of Vietnam becoming a major exporter to the United States and allied to the United States is a beautiful thing. Whatever America can do to help Vietnam will help America rebuild its karma.
Vietnam is heavily dependent on China for key input and electricity. Don't expect Vietnam to be a meaningful counterbalance to China. What is happening is transshipping to escape tariff not Vietnam developing it's core manufacturing capability.
Vietnam is importing electricity from Laos and China. The amount of electricity imported from China accounts for a very small percentage. Vietnam is preparing to build a nuclear power plant in the near future.
Electricity imported from China stands for 1.6%. Is 1.6% heavy?
@@mkjasonandy Imported electricity is mainly used for the North. Daily consumption is about 450 million kWh/day , of which 4 million kWh/day is imported from China, from Lao is 7 million kWh/day. This is a very small proportion. Note : Vietnam is also exporting electricity to Laos and Cambodia
Why Philippines has the most expensive electricity?
Two decades after EPIRA, the electricity rates in the Philippines are still among the highest. There are many potential causes of high prices, including low generation capacity, governance failures, bureaucratic hurdles, and limited competition.
The US-Vietnam war wasn't because of the expansion of communism. It was because Vietnam didn't want to be exploited by imperialism.
And let themselves be exploited by communism.
It is closer to china, easier for companys to relocate.
so odd, just last year DW was praising india like the second coming of messiah. Now they move on to Vietnam like they did the same with india. Something is cooking here
The facts check out. Your conspiracy theory does not.
@ India is still booming and yet its no longer getting praises after have conflict with the US? Is DW not owned by Germans?
I noticed that too😂
their job to praise ABC (anything but china).
Many Chinese companies invest in Vietnam via Singapore...
Vietnam's GDP for 2023 is 429.7 billion US dollars!
The GDP of the Philippines in 2023 is 437.1 billion US dollars!
The GDP of Jiangxi Province, China in 2023 is 460 billion US dollars!
Jiangxi Province's GDP ranks 15th in China!
very very inaccurate information on China
In 2024, Vietnam's GDP is 476.3 billion USD. Don't use outdated data.
@@wojiaobill In 2023, the gross domestic product (GDP) of Jiangxi province in China was approximately 3.2 trillion yuan, or US$457 billion. The per-capita GDP was around 71,200 yuan, or US$10,106 from google ai search
You do know that economic development continues to happen, and an economy can grow or shrink, right? It is the trend that is becoming (very) worrisome for China as it faces a real risk of economic stagflation due to unresolved real estate sector (a big chunk of the economy, and likely destroyer of people's life savings), closures/departures of 'Western' factories, overcapacities in many manufacturing sectors, increasing trade tensions with trade partners, quickly aging population, huge outflow of money, etc. And Trump!
@@FredShin-m7x Chinese data is believed by Chinese only.
Seriously, to gain some respect from other countries, the Chinese government needs to *stop its lies*
and follow international laws and orders.
like israel i suppose, or the Anglo Americans enabling them?
Bc China already developed, vietnam is still developing
Tell china that. They still classify themselves as a developing nation to the WTO.
Vietnam is the future. China is deteriorating.
lol, you are kidding right? China is still a developing country. Get out of the Tier 1/2 cities, the rest of china is still behind, specially the autonomous regions.
What a misleading video. The size of vietnamese economy is miniscule compared to Chinese by that token Vietnam has outpaced all the eu economies
How dare you! China is bad please stick to the narrative!
Yes, growth in developing nations has more potential to be higher than in mature/developed ones.
The gist is that China was fast growing, now other are taking over. And China is not a developed nation yet
The video is not misleading. She wasn't comparing the Chinese economy to the Vietnamese economy. That wasn't the point of the video.
Mate, it's DW, what do you expect. Mind you I was in Vietnam last year, and I must say, it felt like the 1970s-1980s China. More like 1980s-1985 ish. What that means, well, FDI is good (but still small compare to China) and it is still communism, restrictions are there, more so than China. However, people generally have a lot more "disposal income" to spend becoz the property price is low, transportation cost is low, food cost is low so people living standards are on the rise. But please do not forget, their income in general are still low. Just that the curve is on the upwards trend comparing to China. I would still choose China as base becoz of its stability in many aspects. It's kind of chaotic there im VN, you really have to live there and compare. Visiting are not the same as living. Investment wise however, well, if you have a lot of money, you would buy some shares from Coca-cola, some shares on Microsoft, and probably invest some odd chips onto the newly named stocks, but I doubt you would move ALL your money onto these smaller speculative stocks, right? Vietnam is the same. If you are looking for a job, well.... Vietnam might pay you very well if you have a very unique skill, but you will be one in a million. In general, you will have to take a pay cut to get there, but your life could have an immediate improvement (say if u live in the US with the same money). It really depends.
Many many years ago Hong Kong's GDP was bigger than the whole of China.... those days are gone. Unless you can make Vietnam top 3-4 cities into a complete Singapore. If you tell me Vietnam can become about 10 Singapores (name 10 cities in Vietnam) then yeah, they could beat China then. [I need to look up the GDP of SG and China.... just a gut feel] But if you cannot name 10 cities in VN could become 10 Singapores, then saying VN is beating China is a very naive statement, exactly what I'd expect DW News is]
A single City in China, Shenzhen GDP = 150 Million Vietnamese GDP😂😂😂😂😂😂😂
DW: The main advantage for vietnam is that Vietnam is vibrant democracy, while india is communist rule. LOL
Ultimate democracy = communism
No... Vietnam is communist, and has been fully communist since the fall of South Vietnam.
From Wikipedia:
Vietnam is a unitary Marxist-Leninist one-party socialist republic, one of the two communist states (the other being Laos) in Southeast Asia.[233] Although Vietnam remains officially committed to socialism as its defining creed, its economic policies have grown increasingly capitalist,[234][235] with The Economist characterising its leadership as "ardently capitalist communists".[236] Under the constitution, the Communist Party of Vietnam (CPV) asserts their role in all branches of the country's politics and society.[233] The president is the elected head of state and the commander-in-chief of the military, serving as the chairman of the Council of Supreme Defence and Security, and holds the second highest office in Vietnam as well as performing executive functions and state appointments and setting policy.[233]
It's baffling that the western world still make the same mistake again. Vietnam is literally mini-China, both culturally and politically speaking. So, another western loss again in the future. Why don't invest in a more democratic country like Indonesia?
@@Cyan_Nightingalewest are hypocrites.
@Cyan_Nightingale If you are really an Indonesian, you will know the reason why foreign investors ditched Indonesia and move their investment elsewhere.
Same as EU is buying India made Russia oil,US is buying Vietnam made China products.
hahahaha exactly
Guess who owns the means of production in Vietnam? CHINA 😂
Vietnam > Xina much more beautiful country too
You guess wrong. Nobody does.
Harvard Business Review begs to differ. Less than 1.9% of Vietnamese exports can be considered Chinese companies transshipments. It is a free pdf so feel free to Google and read. There are more Taiwanese factory owners than Chinese. They are the same ethnicity so many get confused.
@@nymuelovan Frankly Vietnam is basically a smaller China, and they used to consider themselves as such in the past😅
prove it first?
Growth slows down once a country's economy finishes becoming industrialized, high tech and lifts most people out of poverty. Simple. Great that it's now happening to Vietnam
German media talks about Chinese economy? Sounds quite funny 😄
She can really talk. 😊
As a vnmese I seriously hope this "keeps on booming" is real! VN is a rich country in natural resources, in geographical importance, and in human resource. But for thousands of years, VN has never been a regional powerhouse despite all the natural advantages, so there must be some fundamental problems in the culture or the mindset. Who knows! I'll keep a wait and see and believe it when I see it stance! Godspeed!
Nothing wrong with the mindset. Vietnamese people have been dominated. First by the French then by the Americans. Now they are in a good position where China is helping them develop and usa wants them as a China alternative.
@@GraniteInTheFace lol! Dominated?! You clearly don't know the vnmese! Nobody can dominate them. They'll topple every dominator eventually. But they are also very bad at governing themselves! It's just weird! That's why I said there're problems in either the mindset or the culture. The biggest advantage VN has over other emerging countries is the geographical proximity to China. Right now, the north has already traded the natural environment for economic development. We'll see how it goes but I won't keep my breath!
as economy vietnam growing fast, nowdays millions of indonesian people ready to go vietnam for high paying job .
Is Vietnam outpacing germany?
Apples and oranges. Economic growth in developed countries tends to plateau. All potential is tapped already.
Well, at the end, commúnism wins😂.
☭
More like Capitalism with no political freedoms
Remember that Communism is only bad when its up against the American interest
Yes, communism finally wins the wooden spoon.
that's what most people pretend don't know.
Looks much better and advanced than India
Even Vietnam is rushing back to China to build ther NORTH-SOUTH high speed rail !! Japan could not do it, Nor the Germans nor South Koreans !!!
If we look at Vietnam's growth pattern, we certainly cannot just look at one year. I first handedly live with Chinese, Koreans, Vietnamese, etc. I say Vietnam is significantly different from China, not just culturally but more intrinsically. China has been telling its people that Vietnam is a friend and Vietnam needs to be prosperous to benefit China. This is not the view of Vietnam. If there is one ethnicity that the current Vietnamese dislike, that is the Chinese. In the US and EU, it is observable that Vietnamese and Chinese do not mix at people level. If you listen to Trinh, despite China's FDI is a lot bigger than Japan, she did not mention China as a key investor into Vietnam. She did this twice. Just think about it. Think about why.
Every Asian country is different
Korea is also very different
She signifies money is flowing out of China and money is flowing into Vietnam
@@LollipopLop You did not understand my point. When the Chinese move their business to Vietnam, they assume the Vietnamese are similar people under Confucius circle. The reality is not really like that. The Chinese are not correct.
@@phucdo7413 She doesn't recognize China is top FDI into Vietnam.
@@EuroTravChannel once vietnam was a province of china, at least north vietnam, how can they be so different people
Vietnam rocks ,
AS AN AMERICAN BUSINESS MAN WHO HAVE VISITED VIETNAM, MEXICO INDIA ARE ALL USING CHINESE SUPPLY CHAIN. CHINESE SUPPLY CHAIN IS THE MOST ADVANCED IN THE WORLD. CHINESE VERTICAL INTEGRATION AND INDUSTRIAL AUTOMATION IS THE BEST IN THE WORLD.. IT TOOK THE 40 YEARS TO PERFECT. EVERY ONE DEPENDS ON CHINESE SUPPLY CHAIN BECAUSE IT TAKES DECADES TO BUILD A SUPPLY CHAIN.
@9:58 kudos to the reporter for not burst out laughing 😅
If Vietnam outpaces China, it is certain that Vietnam also outpaces Germany.
And you choose to be busy discussing China.
Most of the Chinese firms are operating out of Vietnam and bypassing world tarrifs
Vietnam doesn't have the supply chains. They do however have metric tons of rare earth metals.
They have high quality human resources. They have prepared a lot for these things. This is the time for them to reap the fruits of their labor.
That’s how you do it Germany, cheap electricity and competitive labour costs.
Two socialist countries working hard together to succeed for its own people and the west trying to sow discontent between them? They will not bother with you and keep pulling ahead😂
Vietnam's never in a same boat with china.
@@huynhnguyen8192stay neutral but same direction, socialism for people interest.
where west mostly take care of the rich, messing up their home.
What a hard workers. We are here in west only remember how to talk a lot...
the living cost there very very cheap thanks to agricultural area, low tax, and also the control of inflation to keep the cheap labor that can attract investors and keep the life of pp still comfortable
Germany should learn from Vietnam.
I am Vietnamese, my answer is No, Germany still very strong. Dont learn from Vietnam
as economy vietnam growing fast, nowdays millions of indonesian people ready to go vietnam for high paying job .
@@말라유 Vietnam still have lower GDP per capita than Indonesia and therefore cheaper labor cost.
I know that because I used to work for Indonesian company which open factories in Vietnam to lower production cost.
Because Communism?
Remember that Communism is only bad when its up against the American interest
most people will pretend don't know that 😂
Wester country and USA supporting communist country like Vietnam 😂 it is so fair
Thank the Vietanamese Communist Party.
But, but, but what causes Germany's economy collapse?
The bloke talking on his headphones in the background should be chided for upstaging Ms Nguyen's interview.
Nah, he was showboating.
Will DW find fault with an Asian country doing well like they always do in the past?
Using Vietnm to counter Ch!na is the motive thought US democracy would not hate communism when come to Vietnm. But Vietnm is still heavily relying on C h!nese supplies, infrastructure and knowhow.
Everybody gets a turn to shine in the new multipolar world :)
Nah, Vietnam is doing a China -- and the West is an important enabler.
When China was at a similar stage of development as Vietnam, its average annual GDP growth rate exceeded 10% and was sustained for about 30 years. Vietnam’s competitors are not China, but rather India and Bangladesh.
Time will tell. You don't need to say much. Everything you say is just your own opinion.
@@cynki5152 0.47 trillion US dollars vs 18.5 trillion US dollars, China's GDP is 40 times that of Vietnam!
US $4400 vs US $13000, China's per capita GDP is three times that of Vietnam!
Vietnam and the Philippines are on the same level, with almost the same population and GDP!
So, don't compare Vietnam and China, the difference is too far, it's like comparing yourself with Elon Musk, it's meaningless!
I live in HCMC. As I write this, both Hanoi and HCMC are two of the most polluted cities in the world with extremely high levels of pm2.5.
Vietnam needs to find measures to contain this as its manufacturing sector grows otherwise the large expat community here who are contributing significantly to this growth will pack their bags and go.
So far Hanoi has a target for at least 50% of buses, 25% of motorbikes and 100% of taxis must be EVs by 2030.
Perfect interview to teach a class. Sneeringly contemptuous and condescending on one side, unaware and eager to impress on the other.
Vietnam is doing their job really great. Chinese came here and say China is influential to Vietnam. But that is not true at all. The reason why China can make products, because USA buys it. If USA stops buying it from China. Then USA will directly trade with Vietnam. And South Korea is more deeply related to Vietnam, not China. Chinese do not have any purchasing power. Samsung products from Vietnam is purchased by USA, Europe, South Korea and Australia and South Americas.
Good luck spending money on factories and hiring skilled workers, taking 3-5 years ONLY to go broke in the meantime hahahah Even Apple is going back to Chyna
BTW, its China who is banning goods to and from the USA hahahaha
Chinese do NOT have purchasing power? LOL German and US carmakers were making a killing in the Chinese booming middle class from 1.4 billion.... NOW that China has banned them, they are all going broke !!
Chinese can get better local products like Huawei than foreign rubbbish
Everyone come to Vietnam ❤❤❤
Gee she knows her stuff well done
If Vietnam didn’t loose the war they are the number 1 richest in Asia tie with Japan there are a lot of smart people in Vietnam
Such a dumb graphic lmao
🤣🤣🤣 These videos from Western media are hilarious.
Well DW does have journalists like Zhang DanHong but she left because she's fed up with what she can or cannot report as a journalist (due to internal censorship), such as topics about asylum seekers, and it may box someone into the far-right category (i.e. you must be conform to this artificially made standards otherwise you'll be censored) which is kind of unfair in my opinion. So I suppose one couldn't report certain topics about China as well, therefore certain topics can be a bit one sided.
A single City in China, Shenzhen GDP = 150 Million Vietnamese GDP😂😂😂😂😂😂😂
well said bro!
Is it as big as Busan, Osaka, then?
Why doesnt the picture on the cideo show the German Chancellor? What is DW weird facination with China and Xi? Is Vietnam kicking Germany economically but dont want to compare? 😂
VN salaries are still less than half of China. VN is always a poor copy of China and 50 years behind.
3 que??? 😅😅😅
Khát nước không???
Well I do know that the furniture and wood-working industry isnt booming in Vietnam, quite the opposite actually
Vietnam's forestry(mostly timber & wood products) export sets a record of $17.3 billion, a 19.4% growth year-on-year. This data came out 2 weeks ago.
How can Vietnam outpace China if China is providing supply chain components , know how, and market to Vietnam?
booming what? labor market? what exactly major products booming?
Watch the video again. Pay attention to 4:53
But Vietnam is too small
"DW is funded by the German government" like they say on TH-cam 😅😅😅
but work for foreign gov
Wrong to compare Vietnam with China. China is huge in terms of economic size and technological power. Vietnam can think about competing with China in the longer term.
Us should help vietnam to come full circle
Vietnam is raising too fast that polution especially Hanoi is also fast
It is an inevitable part of industrialization. The important thing is that we minimize its harmful effects.
Also report that there is massive Chinese investment in Viet Nam
You export more also you have to import more. Trade surplus is no longer allowed by its current anti free trade.
From made in China --> made by China
Happy to hear. Raise those tariffs
main investor is China(counting HK), why is she keep avoiding this fact?
But some chinese origin companies are just moving to other countries to avoid U.S. high tariffs and sanctions.
Tell you an harsh reality: among all the 31 provinces of China, even the poor province Guangxi bordering with Vietnam can beat Vietnam easily.
Having said that, is it worth for German media talking about the nonsense? 😅
It's really not Vietnam.
It's Chinese firms relocating to Vietnam. Machinery is Chinese, financing is from Chinese banks, management is Chinese, even raw materials and large chunk of the electricity is bought from China. It does bring a lot of low end employment to Vietnam though, which is good for them.
Vietnam imports 1.6% electricity from China, bro!
@mkjasonandy doesn't change anything. Vietnam is primarily a beneficiary of American sinophobia, it's not like Vietnam is doing anything special, its main selling point is "hey I'm not China!"
India is coming bebe🎉
😂🤡
Relying on foreign investment so heavily is so not good form of growth. It's just a typical middle income country plan. Vietnamese government gives more benefits to foreign companies than their own countries start ups which is bad. Anyway, the low hanging fruit is gone and they keep keep trying to tariff automobiles all they want but it won't make them competitive.
The question I ask myself is: Is this the new Taiwan or the new China?
8:19 india didn't need textile FDI india aim is totally different india aim is fdi in electronics and other crucial high tech areas FDI india accepting such as semicounter FDI by usa MICRON and STMelectronics and Taiwanese gaint powerchip which didn"t have india alternative ! cuz huge textile parks by indian private players rising up already we kept out textile for our back then friendly neihbour bangladesh but policy chnaging now after regime change
are you delusional? india FDI is at its lowest since 2013!
You cant just jump directly from nothing to high tech manufacturing. The workforce needs to be trained in manufacturing techniques and disciplines. That's why all countries went step by step. England also got start with textile, then heavy industries, then tech and other higher valued added industries. Same with China, Taiwan, etc.
That is great… however, compared to other countries Vietnam is smaller.
AS AN AMERICAN BUSINESS MAN WHO HAVE TRAVELLED GLOBALLY, AND BEEN TO CHINA. THE WESTERN BUSINESS COMMUNITY, POPULATIONS AND IGNORANT POLITICIANS DO NOT SEEM TO UNDERSTAND THAT THE GLOBAL SOUTH EMERGING MARKETS WITH RISING POPULATIONS WORTH TRILLIONS OF DOLLARS 88% OF THE GLOBAL POPULATION WILL LEAD GLOBAL ECONOMIC GROWTH FOR THE NEXT 50 YEARS. ..DEVELOPING NATIONS NEED EVERYTHING TO BECOME DEVELOPED. THIS IS A 100 YEAR MARATHON. EXAMPLE THE GLOBAL EV MARKET IS PROJECTED AT 9 TRILLION DOLLARS BY 2030. THAT IS ONLY 5 YEARS AND THE ONLY WESTERN EV COMPANY IN THIS SPACE IS TESLA AND BYD IS NOW GONE GLOBAL..AS THESE NATIONS DEVELOP DEMAND FOR HIGH VALUE ADDED GOODS WILL RISE, AND CHINESE COMPANIES ARE POISED TO DOMINATE THESE MULTI TRILLION DOLLAR MARKETS. BECAUSE CHINA CAN MANUFACTURER GOODS THESES PEOPLE CAN AFFORD.THE WESTERN MEDIA ALWAYS BASHING CHINA, CHINESE YOUTH UNEMPLOYMENT.. CHINA GRADUATES 4 MILLION STEM GRADES EVER YEAR..THIS IS ALSO STRATEGIC. AS THE GLOBAL SOUTH RISES ECONOMICALLY, THEY ARE GOING TO NEED ENGINEERS, SCIENTISTS AND TECHNICALLY SKILLED EXPERTS AND CHINA IS POISED TO DOMINATE THESE SECTORS TOO.. ITS TIME WE IN THE WEST ESPECIALLY AMERICAN STOP THIS ANTI CHINA BASHING HATE DEMONIZATION AND START TO LOOK AT THE WORLD DIFFERENTLY.. WE NEED A NEW GENERATION OF AMERICANS LEADERS TO END THIS DIVIDED AND CONQUER RACIST VIEW OF OUR WORLD. ZERO SUM MENTALLY ONLY LEADS TO ZERO..ITS TIME TO ADOPT A NEW VISION AND LEARN FROM CHINESE WISDOM THAT WIN WIN MENTALITY IS IN EVERY ONES BEST INTREST.. INSTEAD OF HATRED OF CHINESE TECHNOLOGICAL AND ECONOMIC SUCCESS WE CAN COLLABORATE WITH CHINA AND WORK TOGETHER TO SOLVE THESE MASSIVE MULTI TRILLION DOLLAR MARKETS PROBLEMS AND MAKE A LOT OF MONEY FOR AMERICAN COMPANIES AND EXPORTERS..AS PRESIDENT XI SAID THE WORLD IS BIG ENOUGH FOR US ALL TO PROSPER ECONOMICALLY. DO NOT VIEW OUR SUCCESS AS A LOSS FOR YOU AMERICANS. THE ECONOMIC DEVELOPMENT OF 7 BILLION PEOPLE WILL TAKE THE NEXT 100 YEARS AND CHINESE AND AMERICAN COMPANIES DO NOT NOT HAVE THE CAPACITY TO EVEN BEGIN TO MAKE A DENT IN THE MASSIVE ECONOMY DEMANDS DEVELOPING NATION ARE GOING TO NEED IN THE NEXT 50 YEARS. ENOUGH OF THIS RACISM AND EVIL, NASTY DARK HATEFUL VIEW TOWARD CHINA AND THESES 3RD WORLD NATIONS. ITS TIME TO REBUILD OUR MANUFACTURING BASE OUR INFRASTRUCTURE AND FOCUS ON TRADE AND OPENING UP NEW MARKETS FOR AMERICAN EXPORTERS INSTEAD THIS SELF DESTRUCTIVE OBSESSION WITH WITH HATE DIVIDE AND CONQUER, RACISM , ENDLESS WARS AND SANCTIONS AND WORLD DOMINATION USING OUR MILITARY.. THIS IS A LOSING PREPOSITION.
What about DEI issues. How are they dealt with? That is the most important thing facing business today.
Chinas economy is struggling being hitched to the russian anchor 😂
Where did you get this details from?
Yes China is rapidly degenerating and vietnam is the future am from nam ❤
@@nymuelovan Vietnam's GDP for 2023 is 429.7 billion US dollars!
The GDP of the Philippines in 2023 is 437.1 billion US dollars!
The GDP of Jiangxi Province, China in 2023 is 460 billion US dollars!
Jiangxi Province's GDP ranks 15th in China!
You're really negative person!
Cambodia are safe to do business with around the world.
It certain was booming when the Vietnam war was on also .
Because china relocate their resources there😂
Not really
200$ minimum wage?
V is integrated into C supply chain? Replace C? Well, your happiness is the most important thing.