Friendshoring: A Challenge or an Opportunity for Vietnam?

ЮГО-ВОСТОЧНАЯ АЗИЯ: АКТУАЛЬНЫЕ ПРОБЛЕМЫ РАЗВИТИЯ, 2024, №4(65), 204-213

 
Annotation: The article examines friendshoring as a factor in Vietnam's foreign economic strategy. Friendshoring is understood as the targeted transfer of production and sales markets by governments of several countries to countries with similar dominant value systems, political regimes and geopolitical guidelines. Friendshoring is designed to reduce the impact of geopolitical risks on production processes and increase the stability of their functioning. The concept of friendshoring is firmly associated with the US foreign policy strategy implemented in recent years and is situationally anti-Chinese in nature: geographic diversification of production and sales chains is designed, first, to reduce the dependence of the US economy on China. The implementation of the friendshoring strategy creates additional opportunities for the Vietnamese economy to attract foreign direct investment and puts the country's government before a difficult geopolitical choice.

Keywords: friendshoring, China, Vietnam, geopolitics, trade wars, sanctions