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Straits Times Article Describes Vietnam’s Hopes for the Biden Presidency

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Straits Times Article Describes Vietnam’s Hopes for the Biden Presidency

Straits Times Article Describes Vietnam’s Hopes for the Biden Presidency

November 27, 2020  share     

The Straits Times recently published this article which captures the opinions of a few members of the Vietnamese government about Joe Biden’s recent election win.  Given the general anti-trade stance and phrenetic approach of the Trump administration to foreign relations, it is not surprising to see optimism in these opinions.  At Peregrine, we do not believe that Vietnam is guilty of systemic currency manipulation, but that devaluation of the Vietnam Dong is mostly a result of macroeconomic factors such as the US-China Trade War encouraging businesses to move operations and supply chain sources to Vietnam.  Time will tell, but it is our hope that the outgoing administration will not do anything drastic relating to tariffs or other penalties and that the incoming Biden administration will take a more rational and nuanced view to trade and international relations.