Vietnam’s timber exports to the United States soared in the first quarter
Recently, Vietnam has attracted much attention because of the surge in exports to the United States in the first quarter. It is widely believed that Vietnam, China’s neighbour, is becoming a big winner in the current situation.
Reported that Vietnam’s monetary policy has been more “scrutinized” by the United States because of the concern caused by its soaring exports to the United States. In addition, Vietnam is more and more vulnerable to the global economic downturn as its dependence on international trade grows. But these are not the worst.
For an increasingly unsupported U.S. economy, Vietnam, which makes a lot of money from furniture exports, may provoke jealousy because the U.S. is targeting Vietnam and is brewing new actions against it. The Financial Times pointed out that Vietnam’s furniture export boom is likely to increase the risk of being accused of outsourcing its deforestation business, although it did not specify who was accused, it clearly refers to the United States.