Vietnam economy under no Trump pressure: experts

Experts from the business research group Conference Board said the Vietnamese economy is not likely to experience seismic changes if US president-elect Donald Trump says no to the Trans-Pacific Partnership (TPP) deal.

Vietnamese economy is not likely to experience seismic changes if US president-elect Donald Trump says no to the TPP deal, experts say (Photo: VNA)

The New York-based organisation has also projected the growth rate of 6.2 percent in 2016 and 6.5 percent in 2017 for Vietnam.

Conference Board expert Jing Sima said Vietnam might benefit in the short and medium terms, given that US-China relations are forecast to worsen.

She explained that Vietnam would become a substitution if investors and producers want to withdraw from the Chinese market as a result of the Trump-led US government tightening trade with Beijing.

However, in the long term, all nations will suffer if that government slows down the globalization, she noted.

Economic expert Ken Goldstein, meanwhile, told the Vietnam News Agency that if the TPP agreement comes into effect, there will be jobs created and lost at the same time.

Tendency toward free trade will continue to prevail, he added, noting that the point is governments devising policies to support the unemployment.

Regarding Trump’s pledge to bring manufacturing jobs back home, Goldstein said that there is a gap between campaign commitments and actual moves, and that Trump’s decisions need approval from the US Congress.-VNA

Source: Vietnamplus

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