Chinese President Xi Jinping’s Southeast Asia Tour: Strengthening Regional Trade Ties
China’s President Xi Jinping paid tribute to Vietnam’s late revolutionary leader Ho Chi Minh on Tuesday, his last day of a trip to Hanoi that President Donald Trump said was aiming to "screw" the US.
Regional Trade Ties
Xi is in Vietnam as part of a Southeast Asia tour that will include Malaysia and Cambodia, with Beijing trying to position itself as a stable alternative to Trump as leaders confront US tariffs.
Economic Cooperation
The Chinese leader called on his country and Vietnam Monday to "oppose unilateral bullying and uphold the stability of the global free trade system", according to Beijing’s state media. China and Vietnam signed 45 cooperation agreements on Monday, including on supply chains, artificial intelligence, joint maritime patrols and railway development.
Rail Links
On the final day of his visit, Xi laid a red wreath emblazoned with his name and the words "Long live Vietnam’s great leader President Ho Chi Minh" at the late leader’s mausoleum in central Hanoi. He is also due to attend the launch of the Vietnam-China Railway Cooperation, which will help manage an US$8-billion rail project – announced this year – to link Vietnam’s largest northern port city to the border with China.
Global Trade Tensions
Xi’s trip comes almost two weeks after the US – the biggest export market for Vietnam, a manufacturing powerhouse, in the first three months of the year – imposed a 46% levy on Vietnamese goods as part of a global tariff blitz. Although the US tariffs on Vietnam and most other countries have been paused, China still faces enormous levies and is seeking to tighten regional trade ties and offset their impact during Xi’s first overseas trip of the year.
Conclusion
Xi’s Southeast Asia tour is a significant attempt by Beijing to strengthen regional trade ties and position itself as a stable alternative to Trump. The Chinese leader’s visits to Vietnam, Malaysia, and Cambodia are expected to yield significant economic cooperation agreements and further cement China’s position as a major player in the region.
FAQs
Q: What is the purpose of Xi Jinping’s Southeast Asia tour?
A: The tour is aimed at strengthening regional trade ties and positioning China as a stable alternative to Trump.
Q: What are the key agreements signed between China and Vietnam?
A: The agreements include cooperation on supply chains, artificial intelligence, joint maritime patrols, and railway development.
Q: What is the significance of the Vietnam-China Railway Cooperation?
A: The cooperation will help manage an US$8-billion rail project to link Vietnam’s largest northern port city to the border with China.
Q: How will Xi Jinping’s tour affect global trade tensions?
A: The tour is expected to yield significant economic cooperation agreements and further cement China’s position as a major player in the region, potentially reducing global trade tensions.