China growth slowdown may widen Vietnam trade gap, official says
China’s economic slowdown may widen Vietnam’s trade deficit as the Southeast Asian nation counts on its largest trading partner to buy commodities, according to a government official.
“It would hurt our exports to China, especially with agricultural products,” Nguyen Duc Kien, deputy head of the National Assembly Economic Committee, said in a telephone interview on July 10. “Meanwhile, our imports from China may surge as Chinese producers may lower prices to dump their products abroad.”
China has been Vietnam’s biggest trade partner since at least 2007. The recent stock plunge and the slowdown in China’s growth has triggered concerns in regional governments including Indonesia and Philippines.
