China 

Vietnam to China and back: How one illegal factory worker embodies the trade war manufacturing exodus

Six years ago, when thoughts of a trade war with the United States were non-existent and with China’s manufacturing sector booming, 27-year old Vietnamese worker Manh crossed the border into the neighbouring country seeking to earn enough money to eventually build a house for his new wife back in Vietnam.Despite not speaking a word of Mandarin, Manh boarded a bus in Mong Cai, a city on Vietnam’s border with China, bound for Guangxi, an autonomous region in southern China around 260km north… Source link

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Vietnam 

May’s new order growth of Việt Nam’s manufacturing fastest in year-to-date – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The securing of new customers helped firms to register new order growth, with the rate of expansion the strongest in 2019 so far. — VNA/VNS Photo HÀ NỘI – Việt Nam Manufacturing Purchasing Managers’ Index (PMI) posted 52.0 in May, down marginally from 52.5 in April but still representing an improvement in business conditions in the Vietnamese manufacturing sector. A survey by Nikkei and IHS Markit released on Monday showed the softer improvement in the health of the sector was recorded in spite of stronger increases in both output and…

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China 

Explainer: China’s manufacturing outlook weakens showing economic slump is yet to hit bottom

China’s manufacturing outlook took a sharp downturn in May, suggesting that the economic slump has yet to reach bottom, analysts said.The manufacturing purchasing managers’ index (PMI) is a gauge of sentiment among factory operators and is based on a survey, the responses to which are aggregated into a number. A number above 50 signifies a positive economic outlook, while below 50 means sentiment is in contraction.May’s figure was 49.4, the first time the manufacturing PMI has slipped into… Source link

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China 

China manufacturing index crashes into negative territory in May as economic pressures mount

China’s manufacturing purchasing managers’ index fell further in May, suggesting the economy is continuing to slow amid the escalating trade war with the United States.The manufacturing purchasing managers’ index (PMI), a gauge of sentiment among factory operators, fell to 49.4 in May, a decrease on April’s performance of 50.1, and well below the median expectations of a poll of Bloomberg analysts, which had predicted a drop to 49.9. A reading of below 50 means that the activity in the sector… Source link

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China 

US-China trade war manufacturing exodus creating boom times for Chinese logistics companies

The US-China trade war has created an unlikely winner: the Chinese logistics companies facilitating the exodus of manufacturers looking to dodge tariffs.The supply chain shift has been claimed as a victory by US President Donald Trump, who tweeted: “Many tariffed companies will be leaving China for Vietnam and other such countries in Asia.”This prompted a rebuke from the Chinese Foreign Ministry on Tuesday, which denied that manufacturers were leaving China in their droves.However, plenty of on… Source link

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Vietnam 

Processing and manufacturing firms expect to perform better in Q2 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

HÀ NỘI – Up to 89.4 per cent of enterprises in the processing and manufacturing industry expect to perform better in the second quarter of 2019, according to the General Statistics Office (GSO). Meanwhile, 10.6 per cent said production and business are going to be more difficult. The predictions are based on a survey conducted by the GSO of more than 6,500 processing and manufacturing firms in 63 cities and provinces nationwide. About 91.3 per cent of foreign direct investment (FDI) enterprises in the processing and manufacturing industry were optimistic that their business situation…

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China 

Trade war to hit high-end US fashion brands dependent on specialised Chinese manufacturing

High-end US fashion brands have become more reliant on China for manufacturing, making them more vulnerable to an increase in trade war tariffs, a new study shows.While imports of basic apparel items such as T-shirts and underwear can easily be shifted to lower-cost production hubs such as Vietnam, Cambodia or Bangladesh, China has become so specialised in the manufacturing of higher-value goods such as accessories and coats, that US brands may be forced to stomach the tariff hike.Research from… Source link

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Vietnam 

Tech key to position VN as a manufacturing leader – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Wooden furniture produced at the Quảng Ngãi Province-based Hoàn Vũ JSC to export to Sweden, the US and Germany. — VNA/VNS Photo Vũ Sinh HÀ NỘI – Vietnamese firms should hasten technological development to position the country as a global manufacturing centre, Swedish experts said at a seminar on Tuesday. According to Jennie Cato from the Swedish Association for Engineering Industries, technology had progressed and offered a broad range of advantages for the world’s socio-economic development. In Sweden, at least 50 billion krona (about US$5.2 billion) was spent each year for 2010-17 on technology research and development (R&D), making…

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Vietnam 

Government leader requests steps to develop automobile manufacturing – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An automobile manufacturing line of the Trường Hải Automobile Joint-Stock Company at the Chu Lai-Trường Hải Industrial Complex in the central province of Quảng Nam. — VNA/VNS Photo Vũ Sinh HÀ NỘI — Prime Minister Nguyễn Xuân Phúc requested that ministries, sectors and localities adjust their policies to speed the development of the automobile and support industries. In a report recently released by the Government Office – based on the proposals of the northern province of Ninh Bình, an automobile manufacturing hub – PM Phúc asked the ministries of Trade and Industry, and…

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Vietnam 

New Peugeot manufacturing plant debuts in Quảng Nam – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Peugeot cars are manufactured at a new plant in Quảng Nam Province. VNS Photo Công Thành   QUẢNG NAM — The Trường Hải Automobile Corporation (Thaco) in co-operation with French car manufacturer Peugeot Group (PSA) officially inaugurated a new manufacturing plant and rolled out two made-in-Việt Nam models – the Traveller Luxury and Traveller Premium – in the central province of Quảng Nam yesterday.   The luxury European car brand’s plant, which cost VNĐ4.5 trillion (nearly US$200 million), was designed with a total capacity of 20,000 cars per year for domestic use…

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