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How booming Vietnam offers the US an alternative to China
How booming Vietnam offers the US an alternative to China Vocabulary Pronunciatio Meaning Example n 1. exodus /ˈek.sə.dəs/ A. the movement of a lot of e. The economic crisis led to (n) people or things away from a an exodus of skilled workers place seeking better opportunities abroad 2. friction (n) /ˈfr k. ɪ ən/ ʃ
E. The force that acts to stop b. The friction between the the movement of two objects two departments delayed the that are touching each other project’s completion 3. outstrip /ˌa t ʊ str ˈ p/ ɪ D. To be or become greater in d. The demand for renewable (v) amount, degree, or success energy sources is expected to than something or someone outstrip in the coming years 4. prowess /ˈpra .es/ ʊ B. Great skill or ability a. Her prowess in (n) negotiations has made her an invaluable asset to the company 5. hedge (v) /hed / ʒ C. To limit a statement or
c. Investors often hedge their promise to something less portfolios by including a mix than it might be; to avoid of stocks and bonds to making a direct statement reduce risk. COMPREHENSION TASKS
I. Words and expression explaination 1. former foes ● foe: an enemy or a competitor
⇒ old enemies. It refers that Viet Nam and The US used to be enemies, fighting on opposite sides in the past
1. continues to defy a global slowdown ●
defy (v): to refuse to obey or to do something in the usual or expected way
⇒ keeps going against the worldwide economic downturn. In this context, it means
that Vietnam’s economy is continuing expanding/growing/remains strong despite
(and it is not following) the downward trend of global economy. about:blank 1/4 00:11 29/7/24
How booming Vietnam offers the US an alternative to China
1. just catching up with the reality that already exists.
⇒ the tightened diplomatic ties between the US and Vietnam is keeping pace with the
existing reality of strengthened economic relations between the two nations 1. a litany of pressures ●
litany (n): a long list spoken or given to someone, esp. to someone who has heard
or seen it before or finds it boring
⇒ a long list of challenges and difficulties that makes US corporates skeptical about doing business in China
1. some factories are so stretched
⇒ these manufactories are overwhelmed with work. In this context, it means those
factories are busy trying to keep up with this demand as a result of increased
demand for goods because of Vietnam’s booming economy
⇒ several factories that are operating at their full capacity or beyond their usual limits 1. overheating
⇒ It refers to excessive demand for manufacturing in Vietnam that its current capabilities can't handle. 1. shores up ties ●
shore something up: to support or improve an organization, agreement, or system
that is not working effectively or that is likely to fail
⇒ level up the relations. It refers to the upgradation of relationship between the US
and Vietnam to “comprehensive strategic partnership”
1. the rest of Asia underwhelms ●
underwhelm (v): to fail to make someone, or people in general, feel any excitement
or admiration, or to make them feel less excitement or admiration than expected
⇒ almost all Asian countries, except Vietnam, are struggling with their economic recovery process
⇒ the economic performance or growth
1. the country’s infrastructure still pales in comparison to a longtime trade powerhouse like China’s
⇒ Vietnam’s infrastructure/essential facilities isn’t as advanced as China’s, which
has been a strong trading country for a long time. In this context, it could be a
disadvantage for Vietnam when US corporates evaluates whether or not investing in Vietnam II. Comprehension question: about:blank 2/4 00:11 29/7/24
How booming Vietnam offers the US an alternative to China
1. What does the elevation in the Vietnam-US relations to a “comprehensive strategic
partnership” signify in the context of their existing economics ties? ⇒
1. How does the concept of “friend-shoring” as mentioned play a role in the United States’
supply chain strategy, especially with respect to Vietnam? ⇒
1. What impact did US-China trade war and the COVID-19 pandemic have on global
manufacturing strategies, specifically in terms of the “China plus one” strategy involving Vietnam? ⇒
1. Considering the challenges of “overheating” in Vietnam’s manufacturing sector, what
opportunities does the country still present for global manufacturing? ⇒
1. How does the new semiconductor partnership announced by the White House during
Biden’s visit to Vietnam align with the US’s strategy to counterbalance its relations with
China and support Vietnam’s economic growth? ⇒
1. The elevation of Vietnam-US relations to a "comprehensive strategic partnership"
signifies a deepening of economic ties as the US seeks to reduce reliance on China and
find alternative manufacturing hubs. It solidifies trust between the two countries and
paves the way for increased investments and collaboration, especially in key tech sectors like semiconductors.
2. The concept of "friend-shoring" refers to the US strategy of moving supply chains toward
allied nations to reduce reliance on countries where there are geopolitical tensions, like
China. Vietnam is viewed as a trusted partner for relocating manufacturing and
diversifying supply chains away from an over-dependence on China.
3. The US-China trade war starting in 2018 and the COVID-19 pandemic accelerated the
adoption of "China plus one" strategies by companies looking to diversify production
bases beyond China alone. This led many firms to shift some manufacturing to
alternatives like Vietnam to hedge against overdependence and disruptions.
4. While Vietnam's manufacturing sector is experiencing some "overheating" with demand
outstripping supply, the country still presents opportunities with its lower wages, youthful
workforce, existing supply chain capabilities across sectors, and overall faster economic
growth compared to global averages. Infrastructure bottlenecks remain a challenge.’]]]]’’
5. The new semiconductor partnership aligns with the US strategy of counterbalancing
China's influence by strengthening economic cooperation with Vietnam in a critical
technology sector. It enables Vietnam to play a key role in building more resilient chip
supply chains for the US and its allies outside of China's orbit while supporting Vietnam's economic growth. III. Understanding the article about:blank 3/4 00:11 29/7/24
How booming Vietnam offers the US an alternative to China b Para 8 c Para 4 d Para 6 e Para 5 f Para 3 g Para 7 about:blank 4/4