TRENDS IN US AND CHINA ECONOMIC ENGAGEMENT IN INDONASIA AND VIETNAM
In 2014, U.S. imports from Vietnam exceeded China’s, while Chinese exports to Vietnam exceeded U.S. exports (see figure)
As in Indonesia, the United States and China compete more often with other countries than with each other in goods exported to Vietnam and win contracts in different sectors. The United States and Vietnam are both participants inthe proposed regional Trans-Pacific Partnership, while China and Vietnam are both parties to a regional FTA and the RCEP negotiations.
In fiscal years 2009 through 2014, U.S. agencies’ financing for exports to, and investment in, Vietnam totaled about $205 million, compared with at least $4.5 billion in Chinese financing, according to the Department of State.
In 2007 through 2012, China’s reported FDI of $1.2 billion was more than twice the United States’ reported FDI of $472 million, according to available data.