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Day: May 30, 2024

Vietnam records first trade deficit in nearly two years

the-shiv May 30, 2024

Of note, in S&P Global’s monthly Purchasing Managers Index updates over the last year or so, the fact that Vietnamese manufacturers were burning through inventory rather than importing more, has been reported every other month. This was in the context of lower demand for Vietnam’s exports, a reality that seems to be changing–exports were 15.8 percent higher than in May of last year–and in which case businesses need to scale back up and import more inputs.

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Vietnam electric vehicle maker’s US factory possibly delayed: Reuters

the-shiv May 30, 2024

Work started on the North Carolina right around the same time that VinFast shipped its first electric vehicles to the United States. VinFast’s electric vehicles, however, have not been popular in the US and have received some pretty damning reviews. Furthermore, the company is also being sued for alleged disclosure violations, patent infringement, and unpaid rent, and the National Highway Traffic Safety Administration in the US is investigating a car crash in California in which four people died when the VinFast car they were driving crashed into a tree…

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