A new front has opened in the U.S.-China trade war as companies shifting manufac...
HO CHI MINH CITY/HANOI - A new front has opened in the U.S.-China trade war as companies shifting manufacturing to Vietnam engage in a fierce battle for skilled labor, aggravating an existing shortage and prompting calls for education reforms to address the problem.
Hanoi’s trade deals, including its recently signed FTA with the European Union, have also become a draw. The lack of capacity should come as no surprise: Vietnam’s population is just 7% that of China’s, the country still lacks investment in infrastructure, and according to the World Bank needs to spend an average of $6.7 billion a year to expand its annual power generation capacity by 10% between 2016 and 2030.
“I know that when companies are considering where to locate their facilities, they do review what other manufacturers are in the area and the associated risk of poaching.”
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