Vietnam - A Beneficiary of a Fragmented World?

The global economic order is undergoing profound transformation. Geopolitical fragmentation and the growing rivalry between the United States and China are reshaping the parameters of international economic relations: considerations of security and strategic policy are increasingly taking precedence over efficiency and cost. Governments and companies are prioritizing resilience, risk mitigation, and the reduction of critical dependencies. The EU and Germany, too, are moving away from a purely market driven logic in global value chains. Against this backdrop, Vietnam is gaining importance as a location for the diversification of production and supply chains.