Vietnam is emerging as a winner from the era of deglobalisation

Save time by listening to our audio articles as you multitaskThat message—Made in Vietnam—has been emblazoned on ever more products in umpteen languages since the formerly communist economy started opening up and promoting private enterprise in the late 1980s. Since 2000, Vietnam’sper year. It has lured big foreign firms in droves.

The country of some 100m people also has geographical blessings, such as more than 3,000km of coastline. And it is right on China’s doorstep. Thanks to massive infrastructure spending on things like new roads, its electronics cluster is just a 12-hour drive from Shenzhen, China’s tech capital. “You don’t have to reinvent your supply chains here,” says one industrial-park operator. The government’s knack for staying cosy with both China and America is valuable, too.

The Hanpo Vina factory of which Mr To is justly proud illustrates not only what Vietnam has achieved but also the limits of that success. It is a rare domestic supplier of parts to an. But the plastic bits it makes are some of the simplest in Samsung’s Galaxy phones. Moreover, its plastic-injection machines are imported from South Korea. The resin they mould into plastic comes from China. The Vietnamese stuff does not meet Samsung’s quality standards, admits Mr To.

Western way is not the only one solution.

Miss lie fabricated

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